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English definition of “underwrite”

underwrite

verb [T]     /ˌʌn.dəˈraɪt/ US  /ˈʌn.dɚ.raɪt/ (underwrote, underwritten)
If a bank or other organization underwrites an activity, it gives it financial support and takes responsibility for paying any costs if it fails.Insurance specialized finance & economics If a company underwrites an insurance policy, someone's property, etc., they have an agreement to pay out money in cases of damage or loss.Insurance underwriter     /-ˌraɪ.tər/ US  /-ˌraɪ.t̬ɚ/ noun [C] Insurance
(Definition of underwrite verb from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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