Definitions 
In the insurance field, underwriting is talking the financial risk associated with insuring again a particular event.
For example the underwriter of car insurance must pay out when a claim related to the car insurance is made.
Insurance Underwriters manage risk and reward
Insurance underwriters decide whether applications for insurance cover (risks) should be accepted and on what terms. They assess a risk according to the likelihood of a claim being made by weighing up a number of factors and asking for detailed information from prospective clients (policyholders).
