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FINDLAW LEGAL DICTIONARY

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Underwrite

underwrite vt

-wrote [-rōt, -rōt]
-writ·ten [-rit-n, -rit-n]
-writ·ing
1 a : to assume liability for (a risk) as an insurer [the insurer s individuals, not the group, in franchise health insurance]
b : to issue or set the terms of (an insurance policy)
2 : to agree to purchase (all or part of a security issue) usually on a fixed date at a fixed price with the purpose or plan to resell by means of a public offering [was a security brokerage firm which as part of its business underwrote speculative new issues "UFITEC, S.A. v. Carter , 135 Cal. Rptr. 607 (1977)"]
3 a : to put up funds for or guarantee financial support of
b : to assess the risk of (as a loan)



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.