Deposit Insurance Coverage Clause Samples

The Deposit Insurance Coverage clause defines the extent to which deposits held with a financial institution are protected by insurance in the event of the institution's failure. Typically, this clause specifies the maximum amount covered per depositor, per account type, and may reference the relevant government agency or insurance program, such as the FDIC in the United States. Its core function is to inform depositors of the safety and limits of their funds, thereby providing reassurance and transparency regarding the risk of loss in the unlikely event of a bank insolvency.
Deposit Insurance Coverage. (a) You may obtain information about FDIC deposit insurance coverage by visiting the FDIC website at ▇▇▇.▇▇▇▇.▇▇▇ or by contacting the FDIC by letter, email, or telephone. All your deposits at a Destination Institution in the same insurable capacity (whether you are acting directly or through an intermediary) will be aggregated for purposes of the SMDIA. You should add to your List of Exclusions any FDIC-insured depository institution at which you have other deposits in the same insurable capacity. Insurable capacities include individual accounts, joint accounts, and individual retirement accounts. Separate divisions within a corporate entity are not eligible for separate insurance coverage, and a separate taxpayer identification number (“TIN”) does not necessarily evidence or establish a separate insurable capacity. It is your obligation to determine whether funds we are placing for you through ICS are maintained in separate insurable capacities. We may use your TIN to identify you, and we place your funds on the understanding that you are not depositing funds for placement under more than one TIN in the same insurable capacity. (b) Your deposits in the Transaction Account, alone or when aggregated with your other deposits with us in the same insurable capacity, may exceed the SMDIA. Schedule 2 describes measures you should take if you cannot accept risks associated with uninsured deposits in the Transaction Account. (c) The requirements for FDIC deposit insurance coverage of the deposits of the United States government, state, county, and municipal governments and their political subdivisions, the District of Columbia, and the Commonwealth of Puerto Rico are set forth in FDIC regulations. If you are a governmental unit, you are responsible for determining whether the requirements for deposit insurance have been met. We are not responsible for uninsured losses resulting from the placement of deposits that are not eligible for deposit insurance. (d) The records maintained for us by BNY Mellon regarding ownership of your Deposit Accounts will be used to establish your eligibility for deposit insurance coverage. Accordingly, you must immediately report to us any changes in ownership information. We will inform BNY Mellon of any such changes so that it will have accurate information to provide to the FDIC if a Destination Institution fails. The FDIC could also require you to provide additional documentation.
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Deposit Insurance Coverage. In general, and except as explained in Section 4(b) above, all accounts and deposits that you maintain with an Insured Institution in the same insurable capacity (whether you are acting directly or through an intermediary) would be aggregated for purposes of the SMDIA. Insurable capacities include individual accounts, joint accounts and individual retirement accounts. A tax identification number is not evidence of, and does not establish, an insurable capacity that is separate from another tax identification number used by the same person or entity. Upon request, we will provide you with a copy of the FDIC brochure “Your Insured Deposits – FDIC’s Guide to Deposit Insurance Coverage.” You may also obtain information about deposit insurance coverage by contacting the FDIC, Office of Consumer Affairs, by letter (550 17th Street, N.W., Washington, D.C. 20429), by telephone (▇▇▇-▇▇▇-▇▇▇▇, ▇▇▇-▇▇▇-▇▇▇▇ (TDD) or 202-942-3100), or by e-
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Deposit Insurance Coverage. The Federal Deposit Insurance Corporation (“FDIC”) insures deposits according to the ownership category (i.e., individual or joint) in which the funds are insured. Deposits are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. For purposes of determining how much insurance is applicable to your Accounts, you need to consider accounts other than Online Savings Accounts or TD Accounts that you also hold at the Bank. To determine how much insurance is applicable to your Accounts with us and for any other FDIC insurance requirements that may apply, please visit the FDIC’s website at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇ or call the FDIC directly at 1-877-ASKFDIC (▇-▇▇▇-▇▇▇-▇▇▇▇). You can also use the FDIC’s Electronic Deposit Insurance Estimator (▇▇▇▇) at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇.
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Deposit Insurance Coverage. The Federal Deposit Insurance Corporation (“FDIC”) insures deposits according to the ownership category (i.e., individual or joint) in which the funds are insured. Deposits are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. For purposes of determining how much insurance is applicable to your Accounts, you need to consider accounts other than Online Savings Accounts or TD Accounts that you also hold at the Bank. To determine how much insurance is applicable to your Accounts with us and for any other FDIC insurance requirements that may apply, please visit the FDIC’s website at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇ or call the FDIC directly at 1-877- ASKFDIC (▇-▇▇▇-▇▇▇-▇▇▇▇). You can also use the FDIC’s Electronic Deposit Insurance Estimator (▇▇▇▇) at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇. The FDIC only insures deposits held in insured banks and savings associations (collectively, “insured banks”) and only in the unlikely event of an insured bank’s failure. The FDIC does not insure assets issued by non-bank entities, such as crypto companies. The FDIC only pays deposit insurance after an insured bank fails. Coverage is only available for the deposits that are held in the insured bank at the time of its failure
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Deposit Insurance Coverage. The Federal Deposit Insurance Corporation (“FDIC”) insures deposits up to the standard maximum deposit insurance amount per depositor, per 1-877-ASKFDIC (1-877-275- 3342). You can also refer to the FDIC’s Electronic Deposit Insurance Estimator (▇▇▇▇) at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇.
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Deposit Insurance Coverage. In general, all accounts and deposits that you maintain with an Insured Institution in the same insurable capacity (whether you are acting directly or through an intermedi- ary) would be aggregated for purposes of the applicable FDIC insurance limit.
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Deposit Insurance Coverage. The FDIC insures deposits according to the ownership category (i.e., individual or joint) in which the funds are insured. Deposits are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. For purposes of determining how much insurance is applicable to your Accounts, you need to consider accounts other than Online Savings Accounts or CD Accounts that you also hold at the Bank. To determine how much insurance is applicable to your Accounts with us and for any other FDIC insurance requirements that may apply, please visit the FDIC’s website at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇ or call the FDIC directly at 1-877-ASKFDIC (1-877- 275-3342). You can also use the FDIC’s Electronic Deposit Insurance Estimator (▇▇▇▇) at ▇▇▇.▇▇▇▇.▇▇▇/▇▇▇▇.
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Deposit Insurance Coverage. You may obtain information about FDIC deposit insurance coverage by visiting the FDIC website at ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇ or by contacting the FDIC by letter, email, or telephone.
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Related to Deposit Insurance Coverage

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below or on a facultative basis, subject to the requirements set forth in Section B below. The specifications for all reinsurance under this Agreement are provided in Schedule A. A. Requirements for Automatic Reinsurance For risks which meet the requirements for automatic reinsurance as set forth below, Reinsurer will participate in a reinsurance pool whereby Reinsurer will automatically reinsure a portion of the insurance risks as indicated in Schedule A. The requirements for automatic reinsurance are as follows: 1. Each life must be a resident of the United States or Canada at the time of application. 2. Each life must be underwritten according to the Ceding Company's standard underwriting practices and guidelines. Any life falling into the category of special underwriting programs will be excluded from this Agreement unless previously agreed to by the Reinsurer via a written amendment. 3. Any risk offered on a facultative basis by the Ceding Company to the Reinsurer or any other company will not qualify for automatic reinsurance under this Agreement for the same risk and same life. 4. The maximum issue age on any risk will be age 85. 5. The mortality rating on each risk must not exceed Table 16, Table P, or 500%, or its equivalent, as shown in the Ceding Company's retention schedule, on a flat extra premium basis. However, one life may be uninsurable if the other life meets the preceding requirements. 6. The total face amount of insurance for the Plans of Insurance in Schedule A to be reinsured on an automatic basis must not exceed the Automatic Issue Limits in Exhibit II. 7. The total amount of insurance issued and applied for in all companies on each life must not exceed the jumbo limits as stated in Exhibit II. 8. The Ceding Company shall retain it's maximum limit of retention for the age and risk classification of each life, as shown in Exhibit II, either on previous insurance or insurance currently applied for.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • Insurance Cover Without prejudice to the provisions contained in Clause 26.1, the Concessionaire shall, during the Operation Period, procure and maintain Insurance Cover including but not limited to the following: (a) Loss, damage or destruction of the Project Assets, including assets handed over by the Authority to the Concessionaire, at replacement value; (b) Comprehensive third party liability insurance including injury to or death of personnel of the Authority or others caused by the Project; (c) The Concessionaire’s general liability arising out of the Concession; (d) Liability to third parties for goods or property damage; (e) Workmen’s compensation insurance; and (f) any other insurance that may be necessary to protect the Concessionaire and its employees, including all Force Majeure Events that are insurable at commercially reasonable premiums and not otherwise covered in items(a) to (e) above.

  • Insurance Coverages The Consultant shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City: (a) General Liability Insurance (Occurrence Form CG0001 or equivalent). A policy of comprehensive general liability insurance written on a per occurrence basis for bodily injury, personal injury and property damage. The policy of insurance shall be in an amount not less than $1,000,000.00 per occurrence or if a general aggregate limit is used, then the general aggregate limit shall be twice the occurrence limit.