insured account

insured account definition - business

insured account

A personal or business account at a financial institution that is a member of a state or national insurance organization. For example, the Securities Investor Protection Corporation insures assets in brokerage accounts. The insurance of brokerage and bank accounts protects losses from a failure of the financial institution, but not losses caused by declining asset values.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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