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I believe the requirement for the license you posted is to own an insurance agency.
The data provided is to own an insurance license (i.e. sell insurance), in order to own an insurance company, you have to be licensed.. There are additional requirements ON TOP of those to own a company but you cant open a company until you are first a licensed insurance agent.
No different then owning a real estate brokerage firm, you have to reach step 1 first, you have to have a license to sell real estate, before you can get to step 2, get your brokerage license and own your own firm.
This is now the second time I have posted this to you, are you not understanding that to own a company, you first have to be licensed?
You know why you can order your potato chips...The carrier who brings those chips to you has agreed to comply with your states laws. If the Insurance company in another state does not provide insurance in your state, it is not because there is a law that says that they can't sell across state lines, it is because they choose not to go by your state's laws. All states require that common carriers abide by their state laws. It is no different for insurance companies. They just choose not to. It is that simple.
No, that's not quite right.
My state can ban chip companies (within this state) from using trans fats and the chip company in another state doesn't have to comply. I can still order chips from that company and eat all the trans fat chips I want.
Meanwhile...my state mandates that insurance has to cover pregnancy, infertility treatments, mental health services and bunion covers, all of which I don't want or need (or am willing to pay for without insurance)....and all of which makes my premiums more expensive but I CAN'T buy insurance from a state that doesn't have those mandates.
The data provided is to own an insurance license (i.e. sell insurance), in order to own an insurance company, you have to be licensed.. There are additional requirements ON TOP of those to own a company but those are the bare minimum to get to stage 1, i.e. a license.
No different then owning a real estate brokerage firm, you have to reach step 1 first, be a real estate licensed sales individual.
This is now the second time I have posted this to you, are you not understanding that to own a company, you first have to be licensed?
I edited my post. See post 481. Also, read your own link.
I edited my post. See post 481. Also, read your own link.
i've read my posting #481 (and reread your 480), and also read my own link. I'm not going to explain it to you for a 3rd time that you cant own an insurance company without FIRST being licensed. Ok, I guess thats the 3rd time I'm going to say that to you.
Yes, its the requirements to be a licensed agent, you have to FIRST be licensed before you can open up a firm. Thats now FOUR times..
i've read my posting #481 (and reread your 480), and also read my own link. I'm not going to explain it to you for a 3rd time that you cant own an insurance company without FIRST being licensed. Ok, I guess thats the 3rd time I'm going to say that to you.
Yes, its the requirements to be a licensed agent, you have to FIRST be licensed before you can open up a firm. Thats now FOUR times..
So? What does that have to do with selling insurance across state lines? To be licensed in PA, one has to either own a business (any business, apparently, the link does not specify an insurance business; you could own a gas station) OR be a resident of the state. None of that has anything to do with selling insurance across state lines.
So? What does that have to do with selling insurance across state lines? To be licensed in PA, one has to either own a business (any business, apparently, the link does not specify an insurance business; you could own a gas station) OR be a resident of the state. None of that has anything to do with selling insurance across state lines.
Who the heck cares if you can sell insurance across state lines if you can't BUY insurance across state lines!!!!
You still end up with the policies that your state allows that you may not want and you can't go buy a policy form another state that you do want.
Who the heck cares if you can sell insurance across state lines if you can't BUY insurance across state lines!!!!
You still end up with the policies that your state allows that you may not want and you can't go buy a policy form another state that you do want.
I'm not sure what your point is. The reason for the state mandates is so people actually get something from their insurance. You may think you will never need some of these mandates, but the day may come. Mental health covers a lot more than major psychoses. Bunion covers? You never know. Pregnancy and infertility coverage shouldn't be costing you all that much more. In fact, a lot of these mandates don't really raise the cost all that much. Even higher deductibles don't lower the cost that much.
So? What does that have to do with selling insurance across state lines? To be licensed in PA, one has to either own a business (any business, apparently, the link does not specify an insurance business; you could own a gas station) OR be a resident of the state. None of that has anything to do with selling insurance across state lines.
Wrong, if I am licensed in PA, I can not sell insurance to someone in OH, without violating OHIO laws for selling insurance without an OHIO license (which also requires an office be setup in Ohio so the insurance regualtors can have jurisdiction to audit your books). Just like a licensed realtor, cant travel from one state to another and sell property because they got a license from Utah.
I'm not sure what your point is. The reason for the state mandates is so people actually get something from their insurance..
Did you happen to catch my explanation about the person in Texas wanting to buy the exact same type of insurance I have here in Arizona?
If the reforms offered in the bills in the Congress get passed and become law, the person in Texas could call my insurance broker / company and get the exact policy I have. As it is now, the person in Texas can't do that.
I'm not sure what your point is. The reason for the state mandates is so people actually get something from their insurance. You may think you will never need some of these mandates, but the day may come. Mental health covers a lot more than major psychoses. Bunion covers? You never know. Pregnancy and infertility coverage shouldn't be costing you all that much more. In fact, a lot of these mandates don't really raise the cost all that much. Even higher deductibles don't lower the cost that much.
The main reason why the business is regulated with so many mandates is because people used to buy up insurance companies in other states and then milk them dry leaving them bankrupt and the state on the hook for the liabilities. (yes, states are liable if the insurance companies go under). That is another reason why offices need to be IN the state. Ohio isnt going to take the liability risk for individuals who reside in PA.
If the offices are located in the states, then states have the legal jurisdiction to shut you down taking over the business if they find questionable accounting or fraud taking place. One state does not have the authority to take over an insurance company in another state if they find wrongful doing, which is why insurance companies need to hold headquarter offices inside the states they sell insurance.
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