underwrite

/ˌʌndəˈraɪt/ verb [T] (underwrote, underwritten)

Definition

› 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 verb from the Cambridge Business English Dictionary © Cambridge University Press)

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