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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