Business Dictionary :

Underwrite and Underwriter

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Underwrite : verb :

(a) to accept responsibility for

• To underwrite a share issue = to guarantee that a share issue will be sold by agreeing to buy all shares which are not subscribed

• The issue was underwritten by three underwriting companies.

(b) to insure or to over (a risk)

• To underwrite an Insurance policy

(c) to agree to pay for costs

• The government has underwritten the development costs of the project.

NOTE : underwriting - underwrote - has underwritten

Underwriter : noun : person who underwrites a share issue or an insurance

• Lloyd's underwriter = member of an insurance group at Lloyd's who accepts to underwrite insurances

• Marine underwriter = person who insures ships and their cargoes

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