Can I start an Insurance Business?

**gbboone** · 06-03-2009 05:54 AM

**Will** · 06-03-2009 08:00 AM

Do you have millions/billions of dollars behind you? Depending on what you are insuring, you will be liable to pay out huge amounts of money from thousands to millions of dollars at a time if a claim arises from a client.

Sorry to sound negative, though if you have to ask, sorry, no I think you should think about another industry.

**Deal_Maker** · 06-03-2009 09:42 AM

Sure, go ahead. Hey, I've got an idea. I'll give you the money to start it.

**sonnyrizo** · 06-07-2009 09:18 PM

If you're asking this question, the answer is no. Insurance companies are required to have huge reserves of money. Unless you already have the money, think of something else.

**ajd** · 06-07-2009 09:25 PM

You could consider becoming an independent insurance broker. You would deal with many different insurance companies to find the right plan for your client. This is much more reasonable than starting your own insurance company.

**The Stealthy One** · 06-08-2009 08:02 AM

You could become a broker, as ajd suggests. Keep in mind, you must still be licensed as a broker. Sometimes, the company you work for fronts the training costs and licensing costs, and other times you must cover them yourself.

**TrafficVault** · 06-08-2009 09:51 AM

Go to any job board- you will see a bunch of ads from Insurance Co's looking for new brokers. If you post a resume- you are bound to get at least a couple of calls from their recruiters. There's a lot of turn over in that biz, so they are constantly recruiting.