NLIC.org

Tim Said:

how do i go about and what is needed to open up an insurance brokerage? how do i get started?

We Answered:

Decide if you want to go independant or captive. Then contact the insurance carrier that you want to go with. They will help you with setting up an office. Next you need to advertise.
Here is a good place to start:
Auto Ins - http://www.insuremyvehicle.com
Home Ins. - http://www.insuremyhouse.com
Life Ins. - http://www.insuremylife.org
Business Ins. - http://www.insuremywork.com

Rhonda Said:

what permits do I need to open up a insurance brokerage?

We Answered:

You found E&O in Houston for a new office? That really surprises me. It's damn hard for a new agent to get, here in Houston.

You also, obviously, need your license to sell insurance, and your carrier appointments. But likely you already have that license, or else you couldn't have gotten the E&O coverage. You can't buy professional liability without a license.

**No. Once you set up the DBA, have the insurance license(s), have the appointments, and have a tax id number assigned, you don't need any other kind of permit.

Misty Said:

How do you start an insurance company?

We Answered:

First you raise hundreds of millions of dollars.

Then, you hire the actuarial team and legal team to write your policies and promulgate your rates. Your legal team then has to get the rates and forms approved, by each insurance commissioner in each state that you want to sell insurance.

Then, you hire your underwriting team. Your claims team should come soon afterwards.

Then, you hire marketing people to dig up agents to sell your product.