Legal Question in Business Law in Utah
start up insurance company
If one was to start an auto insurance company that gave customers back a large portion of their money as reward for a clean driving record, would this be a legal way of doing business?
Asked on 1/09/03, 8:05 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: start up insurance company
Insurance companies are regulated by State Departments of Insurance. These agencies have a lot of rules with which I am not familiar. There is nothing inherently illegal or improper, but there may be some rules in the insurance department which may affect your decision. Be sure to check with them.
Answered on 1/10/03, 11:32 am
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