Gyroscopic Investing

I have access to a stable value fund in an old 401k, and I"m thinking of putting some of my bonds there since the yield is much better right now than in short-term Treasuries. Before I do that, I'd like to know how safe it is. I know there are insurance contracts under the hood. Are there any horror stories of stable value funds having problems during times of crisis, say in 2008 or other times?