> For the complete documentation index, see [llms.txt](https://docs.takadao.io/takadao-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm.md).

# 04 - Underwriting & Risk Management Algorithm

- [Introducing Dynamic Underwriting](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/introducing-dynamic-underwriting.md)
- [Absence of capital providers](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/introducing-dynamic-underwriting/absence-of-capital-providers.md)
- [Fluctuating reinsurance protection](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/introducing-dynamic-underwriting/fluctuating-reinsurance-protection.md)
- [Using data in real time](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/introducing-dynamic-underwriting/using-data-in-real-time.md)
- [Takadao dynamic underwriting: A closer look](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/takadao-dynamic-underwriting-a-closer-look.md)
- [Risk and the Benefit Multiplier (BM)](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/risk-and-the-benefit-multiplier-bm.md)
- [Individual risk and the Base Benefit Multiplier (B.BM)](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/risk-and-the-benefit-multiplier-bm/individual-risk-and-the-base-benefit-multiplier-b.bm.md)
- [Portfolio risk and the Benefit Multiplier Adjuster (BM.A)](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/risk-and-the-benefit-multiplier-bm/portfolio-risk-and-the-benefit-multiplier-adjuster-bm.a.md)
- [Dynamic Underwriting Reserves](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/dynamic-underwriting-reserves.md)
- [Calculating the Benefit Multiplier Adjuster (BM.A)](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/dynamic-underwriting-reserves/calculating-the-benefit-multiplier-adjuster-bm.a.md)
- [The Dynamic Reserve Ratio](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/dynamic-underwriting-reserves/the-dynamic-reserve-ratio.md)
- [How underwriting surpluses are calculated](https://docs.takadao.io/takadao-docs/part-b.-takadao-the-daos/04-underwriting-and-risk-management-algorithm/dynamic-underwriting-reserves/how-underwriting-surpluses-are-calculated.md)