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English definition of “underwrite”

underwrite

verb [T] uk   /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., that company has an agreement to pay out money in cases of damage or loss.Insurance
underwriter
noun [C] uk   /-ˌraɪ.tər/ us    /-ˌraɪ.t̬ɚ/
Insurance
(Definition of underwrite from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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