Abstract

These caselets focus on the difficulties that underwriters face in fixing a rate. Caselet 1 discusses the information required for fixing rates insofar as the Indian agriculture insurance sector is concerned. It also dis-cusses the suitable method of ratemaking for agriculture insurance. Caselet 2 examines the hardening of the insurance market after the terrorist attack on the World Trade Center, USA, and the problems faced by underwriters and actuaries to fix rates for terrorism covers. The caselet also stresses on the need for an organization to buy a policy from a highly rated insurer in order to improve its credit rating.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Understand the role and importance of under-writers in fixing a rate
• and Discuss the hard-ening of the insurance market after the terrorist attack on the World Trade Center, USA.

Keywords

Underwriters, face, fixing, rate, information, fixing rates, Indian, agriculture, insurance, suitable method, ratemaking, agriculture, insurance, hardening, insurance market, terrorist attack, World Trade Center, USA, underwriters, actuaries, fix rates, terrorism covers, organization, policy, rated, credit rating