Amid fears of a recession, the mortgage crisis and high premiums, public approval of the finance and insurance sector dropped in 2007, a University of Michigan study indicates.
The university’s American Customer Satisfaction Index showed a decline for financial services of 0.7% from 2006, to 75.5, a retreat from gains last year that put the sector at its highest level since 1994. The index is based on a 100-point scale.
For life insurers, satisfaction dropped 1.3%, from 79 in 2006 to 78 at the end of last year, reports the university, Ann Arbor.