Occupation, risk

Relationship between occupation of an insured and degree of risk in such coverages as life, health, and workers compensation. Some occupations are more risky than others; for example, a high wire performer would have to pay more for life insurance than a banker. But the impact of occupation goes further. Claims resulting from exposure to toxic substances that result in occupational disease have been one of the most costly business insurance expenses of recent years. Life and health insurance underwriters also consider whether the occupation of a potential insured is likely to encourage a reckless lifestyle. For example, certain high-pressure occupations, like acting or Wall Street trading, might be considered to lead to overconsumption of alcohol or drug abuse. Occupation is one of many factors weighed by the underwriter in risk selection.

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