Non-depository institutions that provide insurance to protect individuals or firms against possible adverse events are called

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Insurance companies are the non-depository institutions that provide insurance to protect individuals or firms against possible adverse events. Finance companies provide loans and credit, securities firms facilitate buying and selling of securities, and investment companies pool funds to invest in financial assets. None of these types of institutions primarily provide insurance.

Non-Depository Institutions That Provide Insurance to Protect Individuals or Firms