Don't write off insurance stocks

Trying to forecast exactly how Japan's nuclear plant problems will play out is tough. As John Stepek pointed out in yesterday's money morning: How the disaster in Japan will drive up energy prices, most of the 'experts' seem to have little more idea of what will happen than the rest of us. So perhaps unsurprisingly, stock markets have been spooked worldwide. Before yesterday's big rally, even the FTSE 100 had plunged almost 6% within a week. This fear could well be rational. After all, Japan could yet be facing even bigger horrors than the quake has already caused. Yet if the worst doesn't happen, one sector that's been hit harder than most could start to look very interesting for investors…