Due to the financial crisis a lot of pre-need companies here in Manila are bound to close down. They were actually two of them who were featured in the news namely Legacy Plans and Pryce Plans who admitted a trouble with their funds. Last year I decided to get the refund of my own insurance and the only pre-need plan that I have is the Loyola Memorial Plan. So far I haven't heard any trouble or problem about this company and I'm hoping that won't (crossing fingers).
Recently, Nissan announced of cutting it's employees as part of cost-saving measures. The automotive company also predicted a loss of $2.91 billion.
I wonder if this kind of fate will happen to auto insurance companies.
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