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English definition of “underwrite”

underwrite

verb [T]
 
 
/ˌʌndəˈraɪt/ (underwrote, underwritten)
FINANCE to give an activity financial support and take responsibility for paying any costs if it fails: He underwrote a friend's development company in New York. Many businesses have underwritten the event.
INSURANCE if a company underwrites an insurance policy or someone's property, it agrees to pay out money in cases of damage, loss, etc.: Why should insurance companies underwrite policies for people moving into areas that have a high probability of wildfires?
STOCK MARKET if a financial organization underwrites new shares when they are offered for sale, it agrees to buy any shares that are not sold: The firm underwrote $12 billion of securities last year. The rights issue is fully underwritten.
(Definition of underwrite from the Cambridge Business English Dictionary © Cambridge University Press)
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