What is an underwriter?

What is an underwriter?
In general terms, an underwriter is defined as a person who assesses risks to be covered by an insurance policy or a person (as an individual or company) who underwrites a security issue.In title insurance terms, the role of the Underwriter is:(a) The company insuring and issuing the title coverage ie: Chicago Title, Stewart Title, United General Title, First American, Attorneys Title Insurance Fund, etc. and;(b) The person with the local title agency who examines the title searches, county records, etc. in order to create a Title Binder or Title Commitment (intent to insure) for the property.Title insurance is the only type of insurance that is typically "underwritten" at the local level by the title agency.Most other types of insurance providers gather information about a car, person or property and then sends that information to a central office for processing and underwriting.An underwriter can also apply to financial industry as in the bank's underwriter or a securities underwriter.