underwritten

The insurance company has underwritten the cargo ship's voyage.

Definition

1. Verb (past participle of ):
   • To have agreed to finance or insure: "underwritten" describes something that has been accepted as a financial risk, typically by an insurance company or financial institution, in exchange for a premium or fee.
   • To have signed one's name beneath: Historically, it means having signed a document, especially to indicate agreement or guarantee.

Usage Examples

• Financial/Insurance context:

  • The policy was underwritten by a major insurance company. (The insurance company agreed to cover the risk and provide financial protection.)
  • The loan was underwritten by the bank after a thorough review of the applicant's credit history. (The bank agreed to provide the loan based on an assessment of risk.)

• Historical/Legal context:

  • The contract was underwritten by both parties. (Both parties signed the document at the bottom to indicate their agreement.)

Advanced Usage

• "to be underwritten by": to be financially supported or guaranteed by.

  • The research project was underwritten by a government grant. (The project's costs were covered by the grant.)

• "underwritten securities": stocks or bonds that are sold by a financial institution that guarantees the sale.

  • The company's initial public offering was fully underwritten by an investment bank. (The bank committed to buying all unsold shares.)

Variants and Related Words

• Underwrite (v): the base verb meaning to assume financial risk or to sign.

  • The insurer agreed to underwrite the new policy. (The insurer accepted the risk.)

• Underwriter (n): a person or institution that underwrites, especially in insurance or finance.

  • The underwriter assessed the risk before approving the policy. (The risk assessor evaluated the situation.)

• Underwriting (n/gerund): the process of evaluating and assuming risk.

  • Underwriting is a critical step in issuing insurance policies. (The evaluation process is essential.)

Synonyms

• Guaranteed: formally assured or backed.
• Insured: protected against financial loss.
• Endorsed: supported or approved, often with a signature.

Phrasal Verbs

Related Idioms

• "Underwrite the risk": to accept responsibility for potential loss.

  • The bank agreed to underwrite the risk of the new venture. (The bank accepted the possibility of financial loss.)

• (No idioms directly incorporate "underwritten" as a standalone term.)