Question 9 - Across more than one Learning Outcome

You are a property underwriter for an insurer that specialises in UK-based household insurance. As part of the insurer's growth strategy, it has decided to expand into commercial property risks. These commercial property risks will be located in the UK, North America and other overseas territories. The Underwriting Director has asked you to prepare a report detailing how the insurer should underwrite these commercial property risks. (a) Identify five significant underwriting considerations you would take into account when underwriting commercial property risks in the identified territories. (5)

(b) Explain, with justification, one action you would take, for each of the five significant underwriting considerations you have identified in

(a) above, to achieve profitable growth. (15)

(c) Discuss how the emerging claims experience for these commercial property risks may subsequently influence the development of the property insurance portfolio. (10)