Meaning & use
underwriting
The process of evaluating and accepting financial risk, especially for an insurance policy or loan, for a fee.
See it in a sentence
The bank's underwriting process checks an applicant's income and credit history before approving a mortgage.
Insurance underwriting determines how much a customer will pay based on their level of risk.
A note on using this word
Underwriting is standard vocabulary in insurance, banking, and finance, describing the assessment of risk before it is accepted.
Words with a similar meaning
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