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Banks and Insurance Companies Fail

Detective Krum

Detective Krum

Bank failures bring federal agencies into play including FDIC where deposits are insured up to $100,000. Any depositor with over $100,000 in one account will lose the difference. Two more banks failed on Friday September 18, 2009 Irwin Union Bank of Louisville, Kentucky and Irwin Union Bank & Trust of  Columbus, Indiana which had an (E) rating on the scale (A) the best and (E) the worst.

Insurance companies are regulated mainly by state regulators.  When an insurance company fails, the state insurance commissioner becomes the CEO of the failed insurance company.  State insurance commissioners are elected by the people. In the current economic condition, you may want to rethink how you vote for insurance commissioners.

Below is a list of insurance companies which are considered very weak and investors are suggesting you sell your investments in the following insurance companies:

Name Recommendation Rating
Alabama Life Reins SELL E+
American Century Life SELL E
American Home Life SELL E
American Life & Annuity SELL E
Cass County Life SELL E
Continental Life of SC SELL E
Cosmopolitan Life SELL E+
Destiny Health Ins SELL E+
Directors Life Asr SELL E
Dixie Life SELL E-
Escude Life SELL E-
Evangeline Life SELL E+
First American Life Ins SELL E+
Great Republic Life SELL E+
Kilpatrick Life SELL E-
La Cruz Azul de Puerto Rico SELL E-
Landmark Life SELL E+
Lewis Life SELL E+
Mothe Life SELL E-
Mulhearn Protective Ins SELL E
NetCare Life & Health Ins SELL E
North America Life of TX SELL E
Provident American Ins SELL E+
Reliable Life SELL E+
Rhodes Life of LA SELL E
Senior American Life SELL E+
Southern Security Life SELL E+
Texas International Life SELL E+
Texas Memorial Life Ins SELL E-
Universal Life SELL E

September 23, 2009 - Posted by | 1 | ,

1 Comment »

  1. […] Failing Banks and Failing Insurance Companies is posted here. […]

    Pingback by Weak Banks and Weak Bank Directory « Victory 1 Project | October 1, 2009

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