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    • Join Date: Feb 2008
    • Posts: 213

    Underwriting VS Insurance

    Dear Teacher,

    What's the difference between "underwriting" and "insurance" ? Thank you!

    • Join Date: Oct 2006
    • Posts: 19,398

    Re: Underwriting VS Insurance

    If you take out insurance, you aim to protect yourself against risk by regularly payingmoney to a special company that will provide a fixed amount of money if you are killed or injured or if your home or possessions are damaged, destroyed or stolen.

    Insurance companies seek other companies or individuals to underwrite their policies = these will have reimburse the insurance companies for the money that is paid out by the insurance companies on claims.

    • Join Date: Feb 2008
    • Posts: 213

    Re: Underwriting VS Insurance

    Anglika, thank you for your answer.

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