An Underwriter refers to someone that agrees to pay an obligation which may arise from insurance policies. In addition an Underwriter refers to someone that guarantees purchase of all shares of stock and/or bonds being issued by a corporation.
1. A person or firm engaged in the insurance business.
2. An insurance agent who assesses the risk of enrolling an applicant for coverage or a policy.
3. One that guarantees the purchase of a full issue of stocks or bonds.
n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business or project.
Lect Law Library
By this act he places himself as to his responsibility, in the place of the insured. He may cause a re-insurance to be made for his benefit; and it is his duty to act with good faith, and, without quibbling, to pay all just demands against him for losses.