The life of the underwriter is one of great anxiety and speculation.
Underwriter is a speculative genius, and—but the less we say of him the better.
Assur′edness; Assur′er, one who gives assurance: an insurer or underwriter: one who insures his life.
Without interest at the time of the loss there is no right to recover from the underwriter.
It states the limits of voyage and value covered by the underwriter, and the class of ships to be employed.
The consideration paid by the insured to the underwriter in return for the protection granted by the latter is called the premium.
Bill of sale and abandonment with subrogation to underwriter—that is, an assignment of all interest to the underwriter.
Set of bills of lading (endorsed if necessary, so as to be available to the underwriter).
The contract is deemed to be concluded when the underwriter accepts the risk, whether the policy be then issued or not.
Usually the broker keeps a current account with the underwriter, and premiums and losses are dealt with in account.