Is insurance a relatively safe business?

dstebbins · #1 (**permalink**) 01-09-2010, 02:04 AM

If I were to start up a Mom & Pop insurance company (not a broker, but the insurance company itself), would that be a relatively safe financial investment?

I'm thinking, if I attach my office to my home, like a condominium, I can save tremendous money on utilities and land taxes.

Also, all I'll need in terms of expenses are an office, some office supplies, and a few employees to go investigate claims and file paperwork on customers' behalf. No biggie, right? In fact, I could probably have so few employees that I wouldn't even be bound by federal EEOC laws (state, maybe, but not federal).

As a Mom & Popper, I can't afford to pay a lot of claims, but I can easily get around 99% of them by filling the insurance contracts with fine print.

What do you think?

brian · #2 (**permalink**) 01-09-2010, 12:02 PM

I think you're pulling our legs.

Either that or you're completely stupid.

dstebbins · #3 (**permalink**) 01-11-2010, 07:37 PM

How am I stupid? I asked a simple question.

You are EXTREMELY immature for thinking that.

brian · #4 (**permalink**) 01-12-2010, 06:09 AM

You say you're going to make every effort to avoid paying out, and also skirt legal protections for consumers.

What you're really doing is looking to take money from people, without having to deliver on what you're paid to do.

If you do manage to set up your big insurance company from home, please do let us know so we can warn potential customers of your attitude from the start.

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