Underwriting refers to the process by which an insurance company assesses and calculates the risks associated with providing coverage for a particular individual or group. This involves evaluating various factors such as age, health status, occupation, hobbies, and lifestyle habits in order to determine whether or not to offer insurance and at what cost. The underwriting process can also involve verifying information provided by the applicant through background checks, medical exams, and other forms of investigation. Ultimately, underwriting is a critical step in determining the financial viability of offering insurance coverage to an individual or group.