underwrite
verb [ T ]
/ˌʌndəˈraɪt/ ukusunderwrote | 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.