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TYT Episode 10-20-09 (Insane Healthcare Denials, White House Weak On Public Option & More); Insurance Underwriting: Anybody know of any companies that would underwrite and brand a home insurance policy?

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Question by Alize: Insurance Underwriting: Anybody know of any companies that would underwrite and brand a home insurance policy?
I am with a home improvement magazine which specializes in advertisements and we are interested in finding an underwriter that would be willing to brand a product – a home insurance policy. The underwriter will handle all daily operations regarding the insurance in itself, and in turn, we would divert all applicable traffic to you via our publications. Our magazine has an extremely large following, and is trusted and well respected. I am interested in names and phone numbers from probable companies which may be able to assist us. Please, valid answers only. Thanks!
We distribute to over 4 million homes per month, with franchises in 26 cities and growing. The people who recieve our magazine are pre-screened and meet certain qualifications and all own their own homes. We have been in business for the past 6 years.

Best answer:

Answer by mbrcatz17
LOTS of companies underwrite and brand homeowners insurance policies.

You can’t start your own company, though, without permission of the insurance commissioner in every state you want to write business.

What you REALLY want to do, I think, is do “program insurance” kinda like AARP and AAA do. They have arrangements with carriers, to write business with them.

What you CAN’T do, is make any money off of referrals. See, that’s heavily regulated in each state, and if you’re not licensed to sell insurance, you can’t receive “kickbacks” or “finders fees” or “commissions” on policies.

Keep in mind, homeowners insurance is a loss leader. A PROFITABLE company pays out about $ 1.10 in homeowners claims, for every $ 1 they take in, in premium. Policies are underwritten in a very cookie cutter manner.

So, I’m not sure what you’re really looking for here, or how large a “book of business” you’re willing to offer. Or, the QUALITY of the book of business. Can you promise 100,000 owner occupied, single family homes without pitt bulls, that have been completely updated within the past 25 years, and have owners with credit scores over 650? Or are you trying to find a market for substandard business?

You need to be A LOT more specific.

Know better? Leave your own answer in the comments!

Milton Friedman on Self-Interest and the Profit Motive 2of2; If you sell a house on land contract, who pays the home insurance?

This clip is from the 15-part lecture series, “Milton Friedman Speaks” www.ideachannel.com Transcript available via FreedomChannel: freedomchannel.blogspot.com Summary: A student poses a series of question on based on Friedman’s notion that people should pursue their own self-interest. The student points out that he’d read that Friedman had previously come out against disaster aid for victims of a flood in Pennsylvania. Friedman corrected the questioner and noted that he did not come out against private aid for flood victims but instead was against the Federal Government providing discounted flood insurance in advance to home purchasers which motivated people to build houses in areas where they otherwise would not have been able to obtain insurance privately. If not for the discounted insurance, it’s likely many of the flooded houses would never have been built in the first place as it wouldn’t have been in peoples self-interest. The student went on to note that it was recently reported that an old man in Ohio died when the electric company turned off his power when he’d failed to pay his electric bill. Was it moral for the company to act in it’s own self-interest to do so? Friedman responded by asking what if the electric company never turned off the power for anyone? Who would pay the cost–the people who own or work at the electric company? It would be unjust to impose that responsibility on individuals who are running an honest business of providing electricity …

Question by awsomenurse: If you sell a house on land contract, who pays the home insurance?
Do I still have to carry the insurance on the home since the loan will still be under my name???
We have no contract yet on it as I am in the first stages of deciding to land contract house to my renters.

Best answer:

Answer by chatsplas@sbcglobal.net
READ the contract
it’s usually spelled out clearly

What do you think? Answer below!

Faith and Finance

TYT Episode 10-20-09 (Insane Healthcare Denials, White House Weak On Public Option & More); Insurance Underwriting: Anybody know of any companies that would underwrite and brand a home insurance policy?

Milton Friedman on Self-Interest and the Profit Motive 2of2; If you sell a house on land contract, who pays the home insurance?

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