Probably not an original thought...

[matt_doyle]

Are there nonprofit insurance companies?  If not, why not?  I know there are emergency funds for various subgroups of the uninsured, and I regularly see emergency fundraisers online - seems like at least one on my flist at all times - why not something more organized and permanent, a charitable insurance organization run with the same humanitarian viewpoint as microbanks like kiva or the like?

Hell, if I had the money and the know-how, I'd start one up myself.

Please, discuss.  This is something I would very much like input on.

Comments

:'y

[devil]

rofl sob it was overkill for that

i just had a small heart attack when i considered what a legal nightmare a NPO insurance agency would be. i don't know for sure, but i am guessing any NPO insurance agency would have another source of revenue and that company would already be established and/or was established during a time when people were a bit more trusting.

i also think i'm "OH MY GOD" about it as i am because HIPAA is such a nightmare. i know so many things about people's medical history that could get me fired if i ever said them out loud and got caught. it's not a good industry for an absent-minded busybody like me!

i'm also tested frequently on my understanding of fraud, the compliance rules, field underwriting, and how i have to play my part in the company to catch the errors that no one else is going to catch and that my job position is important and if i don't take it seriously they'll find someone who will and etc.

that's like why i get so stressed out about it.

Re: :'y

[matt_doyle]

Actually having done some research, it looks like there are a few... but thanks for cluing me in to how much of a logistical nightmare getting anything started would be.

[devil]

:') most people's best bet would be to start their own business by involving themselves with a larger company and operating under a DBA. that's what all those little so-called mom and pop insurance shops are. they're principal, axa, metlife, progressive, state farm -- all operating under unassuming names like "MAGICAL PERSONALIZED TITLE JIM BROWN INSURANCE AGENCY"

and none of them know the paperwork nightmare involved in getting a DBA approved. none of them know my agony.

none.