Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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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