Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter8: Insuring Your Life
Section: Chapter Questions
Problem 1LO
Related questions
Question
Why do we need FDIC insurance?
Expert Solution
Introduction
Insurance companies and agencies adopt financial strategies to manage various types of risks. Insurance companies and agencies receive periodic insurance premiums from the insured companies and protect those companies from financial loss that might cause due to a specific circumstance. Insurance companies receives premium from various such companies and provide financial aid to some of those companies that are affected by such disastrous event. This spreads the loss amongst a higher number of companies.
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