There financiers who offered insurance contracts to seafarers wrote their names under the specific amount of risk that they would accept in exchange for a certain payment, or premium. These insurers came to be known as underwriters.
Seal kirjutasid meresõitjatele kindlustuslepinguid pakkuvad rahastajad alla kokkulepitud kindlustusvastutusele, mida nad olid valmis kindla tasu ehk preemia eest enda peale võtma.