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