Underwriter

Summary of Underwriter in Insurance Law

An insurance company or syndicate that, in return for a specified premium, agrees to indemnify the assured in the event certain losses are sustained during the course of a marine venture. (Main Author: William J. Miller)

Underwriter in the United States Financial Law

The term “underwriter” is defined in Section 2(a)(11) of the Securities Act to include “any person who has purchased from an issuer with a view to, or offers or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking.” For purposes of this definition, the term “issuer” includes the issuer’s affiliates – i.e., persons directly or indirectly controlling or controlled by the issuer, or under direct or indirect common control with the issuer.

An “underwriter” therefore includes any person who purchases from either the issuer or an affiliate of the issuer with a view to a distribution of securities; offers or sells for the issuer or an affiliate of the issuer in connection with a distribution of securities; or participates, directly or indirectly, in a distribution of securities from the issuer or an affiliate of the issuer to the investing public.

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See Also

• Brokerage
• Premium (Insurance)
• Underwriting
• Mortgage-Backed Obligation (Mbo)
• Warranted Free
• Floating Policy
• Bond Issuing
• Reinsurance