UNDERWRITER  , one who insures

ships and their cargoes from loss and damage, so called from his writing his name under the document or policy of insurance . A request to an under-writer to insure is termed the offering of a " risk," and the word risk in marine insurance is equivalent to the liability of an underwriter under a 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 signature has the effect of making a separate contract, in the terms of the policy, for the amount set opposite the name of the underwriter .