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Natalie Said:

How to open and insurance COMPANY (not agency) in the state of Ohio? What are the beginning steps?

We Answered:

Well, properties aren't money!!

Here's the scoop. In order to be allowed to write even ONE policy, in Ohio, your insurance company needs to be able to prove to the state insurance commissioner, that they are able to pay claims. Generally, you need tens of millions of dollars, to set up the 'reserves', before you're allowed to sell even the first policy. Reserves are allowed to be invested in secure notes like treasury bonds, to help produce income. Most insurance companies make their profits through incomes from invested reserves - not from selling insurance policies.

Now, you need to have an approved policy form, legal for your state. You have to make sure the policy meets all the state coverage requirements.

Now, you need to submit actuarily sound projections to the insurance commissioner, showing your intended rates, and why they are mathmatically accurate, along with projected losses.

The process can take five years or more, assuming you hire legal and actuarial teams to help with the process.

Assets have to be extremely liquid.

Dad's not going to be able to do this without hiring professionals.

Clifton Said:

Can a former Ohio employer open priavte medical insurance mail?

We Answered:

uh...none of the above?

It's your responsibility to have your address corrected; and confidentital medical documents, unless they are identified on the front of the envelope as such,. are just junk mail to a former employee and should never have been sent to you at HIS address in the first place. Be glad he's not just throwing them awayafter he reads them

Deborah Said:

Health reform any answers would be greatly appreciated?

We Answered:

Unfortunately for those in need of insurance your case is repeated too often to mention. Not always for the same reason.

Medicaid for the disabled counts your resources and you are only allowed something like $2,000 which includes a vehicle excluding the amount owed which should apply to your house unless paid for. If it is not paid for the state could put a lien on your home and usually would not collect it until the house was sold or you died.

Most on Medicaid in Nursing homes, their relatives have arranged in advance how to hide resources so they can benefit from the property rather than those who are paying the bills.

I would have to look into it however generally you can apply IF you are hospitalized as you would have a spend down and if the spend down happened in the same month it would pay all of your medical bills.

Usually medical disability payments under Medicare are not restricted I don't think, but are hard to qualify for.

If nothing works my suggestion is let those who don't believe we need health care reform pay for your visits to the Emergency Room at $1,000 or more a pop. You can use them as your physician as many already do, including those who have insurance who are referred to ER's on nights and weekends because your physician is too lazy to see you. About 30 years ago that was not the case as most ER's were covered by physicians who used the hospital on-call. Any admission was generally done by your own physician. That is no longer the case since ER physicians became a sub-specialty.

So you see we really have health care that everyone pays for back doored. It is so much simpler that way. You don't have to talk to people who are mentally challenged.

Usually you may be able to get the city or county to pay some, but there also those anti insurance reform people pay for it in higher property taxes! They just don't know it!

Billie Said:

Can I (20 yrs old) rent a car through insurance while my car is being repaired?

We Answered:

You will not be able to rent a car.

Mario Said:

How do I get insurance for independent contractors in Columbus, Ohio?

We Answered:

In Ohio, all workers compensation insurance is handled through the Bureau of Workers Compensation (BWC). It is not sold through insurance agents. You can reach them at www.ohiobwc.com. It is optional for an independent business owner, but it is mandatory if you will have employees.

For the remaining insurance and bonding, contact a local insurance agent. Your insurance needs will vary depending on the type of work you do.

Todd Said:

Need an accountant with experience in insurance industry in columbus, ohio.?

We Answered:

A lot of places will give you a free consultation, but it will be more of a 'sales pitch' to get your account long term than giving specific advice on specific issues. They'll probably tell you you need to do 'XYZ', but won't actually tell you how (or the best way) to do it, for that you'll probably need to pay.

Please ignore the previous answer, there's more to setting up a business than simple bookeeping. You want to make sure that you set it up legally and in a tax effecient manner. You also need to have systems and controls in place before you start doing business.

I'm afraid it's just a fact of business life that any new business incurs 'start up' costs, but you might find someone who's willing to take you on as a client now (so you can comply with DM requirements) for a minimal fee/on account payment and give you a bit of leeway on payment terms for the first year (a month or two, maybe even more if you smile sweetly). Make sure you get these terms agreed though, don't just not pay your bill on time.

It never hurts to ask, being in a recession people are usually far more open to negotiation than when they have money pouring in. Sit down with the telephone directory and start calling.

Good luck.

Rafael Said:

As a 16 year old male, how much will I pay for auto insurance?

We Answered:

You are much better off being added to your mother's policy than you would be on your own policy, as you will benefit from having a multi-vehicle discount and from her insurance credit score. Your GPA will also qualify you for a Good Student Discount with most companies.

If you will have full coverage on the Camaro, the Physical Damage coverage (Comp & Collission) may be a little pricey if you have low deductibles. Since the vehicle is now over 10 years old, if you don't have a lean on it, you may want to consider carrying liability coverage only. This would GREATLY reduce the insurance premium. However, you would be responsible for paying for damage to your own vehicle if you are at fault in an accident, or if you hit a deer, rock hits windshield, or any other Comp losses. Many people do not carry Physical Damage coverage on vehicles 10 years or older, unless they are in outstanding shape or if you have a leanholder, who will require full coverage.

It may be in you and your mother's best interest to visit with your local Independent Insurance Agent, who contracts with many companies, and can shop for the best coverage at the most affordable premium. Company agents, such as State Farm, Allstate, or American family, only deal with one company, so the rate they have is all they have. Independent Insurance Agents will do the shopping for you.

In Ohio, I have received feedback that AAA has very competitive rates with youthful drivers, so you may want to make sure that is one of the companies you are quoted with.

Good luck! Make sure to be cautious when driving, as a ticket or accident on a youthful driver will really drive your rates up!