Introduction of the term underwriting

Give a brief introduction of the term underwriting?

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Underwriting is a procedure in that there are those financial service providers like bank, investments and insurers that uses these to find out the eligibility of a customer to obtain the products that is owned by them like insurance, equity capital and credit. In this procedure there are risks that are involved and generally financial provider participates in those kinds of risks and remains prepared to undertake them.

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