MLchartDataset catalogue

Voluntary market

Term · Insurance and risk management · MLC-T-INS-003492

The segment of the insurance industry where insurers freely choose which risks to underwrite and at what price, based on their own underwriting guidelines. This market contrasts with the involuntary or residual market, where coverage is provided to risks that cannot obtain insurance in the voluntary market. Most personal and commercial insurance policies are written in the voluntary market.

Table 1. Record
IdentifierMLC-T-INS-003492
FieldInsurance and risk management
SubjectPersonal Lines
Record as JSON 
{
  "id": "MLC-T-INS-003492",
  "term": "Voluntary market",
  "field": "Insurance and risk management",
  "definition": "The segment of the insurance industry where insurers freely choose which risks to underwrite and at what price, based on their own underwriting guidelines. This market contrasts with the involuntary or residual market, where coverage is provided to risks that cannot obtain insurance in the voluntary market. Most personal and commercial insurance policies are written in the voluntary market.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/voluntary-market/"
}

Record 3,597 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.