What is the Definition of Depository Institution?
Financial institutions that obtain their funds mainly through deposits from the public. They include commercial banks, savings and loan associations, savings banks and credit unions.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Depository Institution?
Check out other definition of insurance terms below:
What is the Meaning of ALLIED LINES In Insurance Terms?
Property insurance that is usually bought in conjunction with fire insurance; it includes wind, water damage and vandalism coverage.
What is the Meaning of ALTERNATIVE DISPUTE RESOLUTION/ADR In Insurance Terms?
An alternative to going to court to settle disputes. Methods include arbitration, where disputing parties agree to be bound to the decision of an independent third party, and mediation, where a third party tries to arrange a settlement between the two sides.
What is the Meaning of ALTERNATIVE MARKETS In Insurance Terms?
Nontraditional mechanisms used to finance risk. This includes captives, which are insurers owned by one or more noninsurers to provide owners with coverage. Risk-retention groups, formed by members of similar professions or businesses to obtain liability insurance and self-insurance, are also included.
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