The individual whose duty it is to determine the acceptability of insurance risks; a person whose duty it is to select risks and determine the amounts and terms by which the insurance company will accept the risks.

Underwriting profit

The profit or loss an insurance company experiences after deducting incurred losses and business expenses from earned premiums. This amount excludes investment income and is determined before the provision of federal income tax.

Attractive nuisance

A dangerous place, condition or object, which is particularly attractive to children. In these cases the courts have frequently held that where “attractiveness” exists, the owner is under a duty to take steps to prevent injury to those that may be attracted and the owner may be held liable for failure to do so.