Financial Services Industry
Industry: Email Alert RSS FeedInsWeb-B Of A Deal Halted Despite Signed Contract
National Underwriter Property & Casualty-Risk & Benefits Management, May, 1998 by Trembly, Ara C.
ARA C. TREMBLY A reported deal under which online insurance marketplace InsWeb would provide Internet shopping for insurance on Bank of America's home page has been put on hold by B of A, despite the existence of a signed contract, the parties said. On April 6, Bank Investment Services Report reported that B of A had 'partnered' with InsWeb to help it sell auto, term life, health and fixed annuity insurance products via the Internet.
According to that story, San Francisco-based B of A was the first to sign such a contract with InsWeb, with three other banks expected to follow suit soon. 'The deal is on hold between InsWeb and Bank of America, because of the merger between Bank of America and NationsBank,' said Greg Berardi, vice president, public and investor...
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