Underwriting Expenses

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Underwriting Expenses

The expenses associated with running an insurance agency. Underwriting expenses include salaries and commissions for agents, travel, training sessions, rent on offices and so forth. Underwriting expenses do not include taxes.
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However, underwriting expense growth has outpaced premium growth through the first two quarters of 2015, with total underwriting expenses up 4.
Best's Global Insurance & Banking Database, includes earned premium; losses incurred; loss adjustment expense incurred; and underwriting expense incurred.
Also, the company's underwriting expense ratio is somewhat elevated relative to the personal property composite average, primarily due to commission expenses.
The underwriting expense ratio and net underwriting combined ratio at a class of business level have also been included in the quarterly publication.
The deterioration in underwriting results was primarily driven by increases in incurred losses from weather-related events coupled with AMIC's historically elevated underwriting expense level and the cumulative impact of persistent soft market conditions on the company's business.
Partially offsetting rating factors for TSP are the company's geographic risk concentration, competitive operating environment and above average underwriting expense ratio relative to the commercial casualty composite.
These positives are counterbalanced by the company's geographic risk concentration and above-average underwriting expense ratio, which is however somewhat offset by the adequate underlying book of business, AM Best added.
non-catastrophe) losses also contributed to the improved combined ratio, while the underwriting expense ratio increased slightly to 28.
Also, the company s underwriting expense ratio is above the personal property composite average, primarily driven by higher commission rates.
The ratings acknowledge WMIC s solid capitalization, established market presence in Wisconsin and favorable underwriting expense ratio.
Despite notable reduction in expenses, underwriting expense ratio is on the higher side.
Also, the company's underwriting expense ratio is above the personal property composite average, driven in recent years by expenditures on technology.