Washington Assignment of Account or Time Deposit for Insurance — BodilInjuryur— - WA State Banks Only is a form of insurance protection specifically designed for Washington state banks. It is a type of security agreement that assigns a financial institution's assets to an insurance company in the event of a claim for bodily injury. The purpose of the assignment is to ensure that the bank's customers receive the compensation they are entitled to in the event of an injury. The insurance company will pay out the claim to the bank, which will then pay the customer. There are two types of Washington Assignment of Account or Time Deposit for Insurance — BodilInjuryur— - WA State Banks Only: Assignment of Account and Time Deposit. Assignment of Account is a type of insurance agreement where the bank assigns its accounts receivable to an insurance company, and the insurance company pays out the claim in the event of a claim for bodily injury. Time Deposit is a type of insurance agreement where the bank deposits funds into an insurance company's account, and the insurance company pays out the claim in the event of a claim for bodily injury.
Washington Assignment of Account or Time Deposit for Insurance - Bodily Injury - WA State Banks Only
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