Insureance Help

[Tom S]

Dan, thanks for the clarification

I kind of figured that, and I knew they were not the insurers, but I would "hope" that they bargain in good faith for their members to get the best rates.ps. I don't mind that they get some sort of compensation, just as long as some of it is passed back to the members in the best rates possible.

 

[Dan]

Robert, your/you're LOL

on the right track with the regional idea. the problem lies in that you have to get "approval" from each state in which you operate and each state has it's own capital reserve requirements. there are what is known as "me too filing" where you go in and copy another insurance company's filing and use them as your own. this cuts some of the red tape and shortens the process. remember though, when you set up a "captive" or "self-insurance pool" the members (you) are responsible if your reserves will not cover the losses, each member is assessable. of course, at the end of each period (usually 3 yrs) any excess money is returned to the members in the form of a dividend. it most certainly can be done and would be a great thing, if you could get enough people interested.

 

[Tom Monroe]

Sure hope we get back on our boats soon ...

... and quit being so testy on this forum.

 

[Al]

IMIS: Great service!

Bill:Thank you for suggesting June at IMIS. She moved heaven and earth to get me an insurance binder so I could close on my boat today. She was also a pleasure to deal with, helpful and very candid about various policies.Al

 

[Bill]

Glad it worked out for you Al--

I agree, she's really very helpful. Recent issue of Cruising World (either this month's or last) had a good write-up on the challenges both boaters and marine insurers are facing...IMIS was one of the companies they highlighted, particularly for offshore coverage.Fair winds, Bill