Runs on insurance firms are more likely to occur than runs on banks even in states with guaranty funds for insurers because these funds generally

Name: Runs on insurance firms are more likely to occur than runs on banks even in states with guaranty funds for insurers because these funds generally
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Question

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Insurance guaranty funds generally lack a permanent reserve fund, do not repay policyholders immediately, and lack federal government backing, making runs on insurance firms more likely.

Runs on Insurance Firms Are More Likely to Occur Than