What Does Risk Selection Mean?

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What does Risk Selection mean? Read on to discover the definition & meaning of the term Risk Selection - to help you better understand the language used in insurance policies.

Risk Selection

Risk Selection

The method of a home office underwriter used to choose applicants that the insurance company will accept. The underwriter must determine whether risks are standard, substandard, or preferred and adjust the premium rates accordingly.

We hope the you have a better understanding of the meaning of Risk Selection.

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