1848, from jettison (n.) "act of throwing overboard" to lighten a ship. This noun was an 18c. Marine Insurance writers' restoration of the earlier form and original sense of the 15c. word that had become jetsam, probably because jetsam had taken on a sense of "things cast overboard" and an unambiguous word was needed for "act of throwing overboard."
Middle English jetteson (n.) "act of throwing overboard" is from Anglo-French getteson, from Old French getaison "act of throwing (goods overboard)," especially to lighten a ship in distress, from Late Latin iactionem (nominative iactatio) "act of throwing," noun of action from past participle stem of iectare "toss about" (see jet (v.)). Related: Jettisoned.[jettison etymology, jettison origin, 英语词源]
Old English underwritan "write at the foot of; subscribe;" see under + write (v.). A loan-translation of Latin subscribere (see subscribe). Used literally at first; modern sense of "to accept the risk of insurance" (1620s) is from notion of signing a marine insurance policy. Meaning "to support by a guarantee of money" is recorded from 1890.