davew894 said:Davew894 is perfectly capable of handling such business. I've been in the insurance industry for years and I could generate plenty of meaningful business right now... and save people some money. Only thing I am missing is $20 million.
Living in the US (the land of the free), I guess we'll never know.
How to start an insurance company:
1. Get the know-how - by your own admission you already have that
2. Put together a business plan.
3. Shop said plan to partners with money or investment bankers or venture capitalists etc. etc.
4. Establish business and take your risks and make your money.
5. Become multi-billionaire (or become bankrupt)
Pretty simple. The laws in place to regulate insurance co's are to protect the public (proletariats). Nobody likes fly-by-night insurance companies with no capital to pay claims and no desire to reinsure risks, since they can file bankrupty for less than what it would cost to reinsure. Pardon me for being elitist and patronizing, but most people (including many middle and upper class folks) aren't sophisticated insurance consumers. Our regulations (and the industry's own efforts) allow insurance to be more or less commoditized in the US, thereby encouraging competition.
Our efficient capital markets and established certainty of laws and judicial due process make the US a VERY attractive player in the international marketplace.