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UNDERWRITER

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Originally appearing in Volume V27, Page 578 of the 1911 Encyclopedia Britannica.
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UNDERWRITER , one who insures See also:

ships and their cargoes from loss and damage, so called from his See also:writing his name under the document or policy of See also:insurance. A See also:request to an under-writer to insure is termed the offering of a " See also:risk," and the word risk in marine insurance is See also:equivalent to the liability of an underwriter under a See also:contract. When the risk is divided up among several underwriters, each signs his name individually, putting opposite thereto the amount for which he accepts liability. Each See also:signature has the effect of making a See also:separate contract, in the terms of the policy, for the amount set opposite the name of the underwriter.

End of Article: UNDERWRITER

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