Product Development

The best interests of financial services consumers are much better aligned with a mutual insurance company than a stock insurance company.

Mutual insurance companies are owned by policyholders. Owners of an insurance contract issued by a mutual company are both customers and owners of the insurance company.

Stock-based insurance companies are owned by shareholders, so their focus is divided between customers and shareholders.

Mutual insurance companies are a form of cooperative where individuals voluntarily associate to form an organization that serves the mutual...

Mark J. Warshawsky is Director of Retirement Research at Towers Watson.

Dr. Warshawsky served as assistant secretary for economic policy at the U.S. Treasury Department from 2004-2006 and he has held senior level economic research positions at the Federal Reserve Board, the Internal Revenue Service and...

Warren Buffett’s most recent shareholder letter focuses on the merits of productive assets such as equities in light of the current low interest rate environment and the potential for future inflation.

Buffett’s view is that although productive assets are variable and volatile, they are more likely to preserve future purchasing power than the fixed or currency-based alternatives.

Buffett’s advice would seem to provide a key...

A recent paper sponsored by the...