Insured funds - what is the point?

Surely the more strongly regulated and to a degree transparent unit trust and OEIC structures offer more appropriate havens for client money. It strikes me that the entire concept of insured funds is a throwback to the even darker old days. After all there is seldom anything truly insured about them, it is just that they are priced and run by an insurance company. To be honest, under TCF, I can’t help think that the expression is utterly confusing for investors and may serve only to mislead them into buying an asset they believe cannot fall in value. Now while some products such as onsh...