Insurance companies abandon brokerage firms. A brokerage firm would have to have a catastrophic meltdown before insurance would pay the "last" dime to protect investors' accounts, after all other means had been exhausted. In fact, they haven't had to pay a single claim in over 30 years.
So why are three major insurers suddenly getting out of the business?
(NYT subscription req.)
posted by kablam
on Aug 9, 2003 -