The length of portfolio insurance coverage via put options can be as short as one month or up to a year, depending on when the options contracts expire. (worststockmarketcrashes.com)
They, therefore, rely on portfolio insurance to finance their lending activity. (dominionlending.ca)
You can buy underwater options as portfolio insurance, if your portfolio drops below a certain amount, you still have the right to sell it at a higher one. (money.stackexchange.com)