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Angela Said:

small buisness insurance rates?

We Answered:

OK, you'll need to contact a local agent. If you're doing interior only painting, it's likely going to run you about $1,000 a year. If you do exterior, but no higher than 2 stories, it's going to run you closer to $2500 a year. If you go higher than 2 stories, or use ANY scaffolding, it's probably going to start at $5,000.

Assuming no employees.

Ted Said:

are the big insurance companies going bankrupt?

We Answered:

Some insureurs have had a squeeze on their capital position this year becasue of substantial losses in the their general portfolio. (AIG, HIG, PRU, MET, GNW and others) Many of these companies bought these toxic CDO's which continue to depreciate in value. One ratio that most general investors or poliyholders are not aware of is called its Risk Based Captial ratio. This is a very importnat number as it a percentage of capital a company has on hand to pay policy holders if a company becomes insolvent. Most insureurs had substantial reserves and the insurance industy has very profitable margins associated with its products. In addition these companys are backed by a state insurance fund. The insurance industy will weather this storm better than most other industries although there will be some consolidation.