Question

Q.write a note on: bank act as an underwriting agent?​

Answer 1

Answer:

Underwriting agency is a term that refers to a special type of insurance broker or agent that has been given underwriting power by an insurer, in accordance with the International Risk Management Institute (IRMI), hence can manage programs and negotiate contracts on behalf of an insurance firm.

Explanation:

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Answer 2

Underwriting in banking

Underwriters in the banking sector perform the critical operation of appraising the credit worthiness of a potential customer and whether or not to offer it a loan. They appraise the credit history of the customer through their past financial record, statements, and value of collaterals provided, among other parameters.

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