individual U/W
What does U/W stand for?
Usually UW stands for underwriting, but I feel like that doesn't make sense.
This is from the battle card
Individual U/W - like a stock exchange BUT only open to members (U/W members & non-U/W members)
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What does U/W stand for?
Usually UW stands for underwriting, but I feel like that doesn't make sense.
This is from the battle card
Individual U/W - like a stock exchange BUT only open to members (U/W members & non-U/W members)
Comments
It stands for Underwriters, yes. Did you read the source text?
Can you further explain how Individual U/W works as insurance?
I wouldn't spend too much time on this piece, but my understanding is..
Individual underwriters were historical treated as insurers (i.e Llyod's of London) because each assumes personal liability for the portion of risk they underwrite. This makes them subject to provincial licensing and regulation in Canada, the same as incorporated insurance companies.
I would just think of it like individual underwriters, whatever they underwrite, they are basically subscribing and attaching themselves to that risk/policy as a one-person corporation.