To insure. See Underwriter.
Underwriter
(a) The one assuming a risk in return for the payment of a premium. (b) The person within the insurance company authorized to accept or reject applications for insurance.
Underwriters’ Adjustment Brueau Ltd. (U.A.B.)
Develops and maintains professional claims and related services throughout Canada.
Underwriters’ Laboratories Of Canada (U.L.C.)
Not for profit organization founded in 1920. Operates laboratories and a certification service for the examination, testing and certification of devices, construction materials and services to determine their bearing on fire, accident and property hazards.
Underwriting Profit (Or Loss)
The difference between premiums generated and losses and expenses incurred is the company’s underwriting profit or loss.
Undisclosed Agency
When an agent deals with a third party without notifying that person of the agency, a state of “undisclosed agency” exists.
Undisclosed Principal
If an agent is acting for a principal, and the other party is not aware of it, the principal is “undisclosed principal.”