Shh! Don't talk about Fight Club!
SUPER NERDY ALERT Did you ever watch the movie "Fight Club"? If so, the persistent line throughout the movie is "Don't talk about Fight Club!" Why? Well, watch the movie. As many of you know, the i ntersection of law and insurance simply fascinates me. Here's an instance of that: All U.S. states have a State Guaranty Association. These associations insure life and health insurance companies in case of failure. Failure is rare, but it happens from time to time. As both an insurance agent and an attorney, I have seen the results of this. In that situation, the Guaranty Association worked out very, very well. Consumers need to know that this program exists. Who better to tell them than their insurance agent? For banks, consumers know that the Federal Deposit Insurance Corporation (FDIC) exists. For their brokers, they know that the Securities Investor Protection Corporation (SIPC) exists. How?...