Insured bond

 

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Insured bond

A municipal bond backed both by the credit of the municipal issuer and by commercial insurance policies.



Insured bond

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Uninsured motorist insurance

Uninsured motorist insurance

Automobile insurance which gives cover to the insured and passengers in the event of vehicle damage and personal injury caused by an uninsured motorist.


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A trade acceptance through an insurance entity (rather than a bank) which is conditional upon exporter performance.


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A mortgage insured against loss to the mortgagee in the event of default and a failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure. May be insured by F.H.A., V.A., or by private mortgage insurance companies.


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A bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC.


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Insurance that covers the policyholder and family if they are injured by a hit-and-run or uninsured motorist, assuming the other driver is at fault.


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