 Is there any car insurance company's that don't require a down payment?? |
| I am looking to insure my car do all of the insurance company's require a down payment for their policies??... |
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 Health Insurance Problems / Not Insureable / Ga. Resident? |
| I am a resident of GA. My job no longer offers health insurance and I am not married. Anyone have any ideas. I cannot get health insurance becuase I am deemed un-insurable for past problems. PLEASE... |
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 Help with insurance? |
| okay i am getting insurance at work and there are 2 plans one is 8.75 a month and does not have supplemental inhospital surgery or maternity coverage and the one that is $13 dollars does. what should ... |
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| Do you think that insurance is the closest thing to legalized fraud???? |
It now costs over $400 per month for the average group medical plan that has a $500 deductible and then only covers 80 percent.
Say you have a major trajedy, your still screwed, you'... |
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 Auto accident not my fault, how will this work out? |
| I was in a wreak Monday. This guy failed to yield at his yield sign, then he illegally crossed 3 lanes of traffic to get to the side street across the main street. Here's a drawing of the ... |
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 What if every American had Health Insurance? |
| What would it do to costs? What would it do to quality? Would there be a shortage of Healthcare workers?... |
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 How much life insurance do I need, can I be overinsured? |
| Lately, I've been thinking alot about my death, I have two sons and I don't want my passing to leave them in debt, in fact i would rather they both ended up with something. I have a policy ... |
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 Insurance, Void or Not? |
| I live in a Listed Building owned by a Housing Association. Entry is gained via secured doors. One of these doors has been broken for several weeks, allowing anyone to just walk in. The Association ... |
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 Hiring 1099 contractors that are not insured? |
| I hire friends and some of their friends to help set up events. Each event is different and these guys work for multiple companies not just mine. I have them sign a Independent Contractor agreement ... |
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 $70,000 medical bill! HELP!? |
| I have a friend who was in an ATV accident a few years ago. At the time of his accident, he busted up his arms pretty bad and had to be Mercy-flighted to Buffalo NY. He did not have health ... |
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 Can i qualify for medicaid if i'm NOT pregnant and still live @ home? |
| I'm 23 and graduated from college in june, but cannot find a job with medical benefits. so i currently work a part time job for minimum wage and live with my parents.... but when i graduated, my ... |
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 Is it fraud? |
| Is it fraud if I had my car damaged by someone else and they want to pay out of pocket for it, and I get an estimate and they pay me, but I don't get it fixed. Is that considered fraud?... |
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 Does anyone know anything about working for primerica? |
| I am looking into working for them or some other. just seeing if anyone has any experience with them.... |
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onthemoney | How does insurance work as a business? |
I want to understand how an insurance company makes a profit, how it pays employees, how it determines to pay claims and how it protects itself from falling apart from paying too many claims. I would like to start an insurance company and want to find out as much as possible before plunging in but there aren't too many resources that get into the dirty details.
Additional Details
Please keep in mind that CEO, salesman and actuary are separate jobs with specific skill sets. Business owners need not be able to perform these tasks but more so be able to hire people with these skills. I have a market for a new type of insurance and want to have an idea of what kinds of things I am correct about and what I am incorrect about in regards to how a profit is made. I wasn't sure if it was common practice to just take the net of the float or to take the net of investment income.
Great work with the insurance commission info as well. |
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Zarnev
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Each insurance company is mandated by the state insurance commission to have a certain $ amount in readily available cash, such as money markets, to pay out for claims. The $ amount will vary by the line of insurance, the number of policy holders, and the state but a cash reserve of $5 - $20 million is not uncommon. They will also have other long term, less liquid, investments. The insurance company then takes out re-insurance from other insurance companies to cover the remaining possible liabilities.
They make a profit mainly on their investments. Health insurance, for example, make less than 1% profit on the premium and many auto insurance companies pay out more in claims than they receive in premium. |
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Vipin K
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insurance company take the premium and that money is invested in share market they provide home loan and they keep fixed deposit etc there are a lot of business work insurance company do |
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kakashihatake2510
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You might find these magazines interesting. You want to start a company??!! are you an actuary? |
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Gambit
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If you want to know how an insurance company works, then go work for an insurance company and discover these details for yourself. Starting an insurance company requires a huge (tens of millions) starting capital, so unless your last name is Buffet or Gates I doubt you'll be able to pull this capital from your bank account. This means you'll need investors. No one is going to invest in an insurance company where the CEO/CFO has no experience in the business except what they read in textbooks and information they garnered from Yahoo! Answers. Get out there and get some real world experience. |
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A. Wright
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Risk and probabilities. |
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lguz
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You want to start an insurance business, and you don't know how the company makes money? Sounds a bit backwards to me. Also, as mentioned, you might want to become an actuary first... |
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