The Underwriting Process in the Environmental Pollution Liability Insurance for Enterprises with Hazardous Waste Production

Abstract

The article deals with some of the problems associated with underwriting process in the insurance companies, offering legal liability insurance to business companies of high environmental risk production. It is focused on some topical issues, highly significant, but not sufficiently treated by the insurance theory and practice in Bulgaria. The main goal of the article is briefly to shed a light on the underwriting concept in the insurance sector. Firstly, the specifics of the underwriting as a core business process that drives and interacts with other main and secondary processes in the insurance company are outlined. Thus it shapes almost the entire company’s profile, competences and business model as well. The article also outlines the decisive role of the underwriting and the need of its implementation in environmental pollution liability insurance for companies with hazardous waste production.