To underwrite is to insure or promise to be financially responsible in case of loss or damage. An insurance agent can underwrite your renter's insurance policy, which protects you if there's a fire or robbery, for example.
p. p.
of Underwrite
Usage Examples
On banks, I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer. There is much public anger about banks and it is well deserved.
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