Hello again. Questions on figuring out some stuff. This is for P&C in Northern Florida.
1.) When you're looking at buying a book of business and said book is claimed to be $500K, that's $500K in premiums, right?
2.)Roughly speaking, how much does that $500K in premiums translate to amount of coverage? For example I found a calculation that to figure premium take Coverage amount x 1000 x $3.00 = your premium? If that's correct $170,000,000.00 in coverage would equal $510,000.00 in premiums?
Basically I would like to know how many and how much coverage/policies would need to be sold to get to a $500K book of business. I know amounts vary depending on location and such, I just would like to get a ball park idea.
Thanks
1.) When you're looking at buying a book of business and said book is claimed to be $500K, that's $500K in premiums, right?
2.)Roughly speaking, how much does that $500K in premiums translate to amount of coverage? For example I found a calculation that to figure premium take Coverage amount x 1000 x $3.00 = your premium? If that's correct $170,000,000.00 in coverage would equal $510,000.00 in premiums?
Basically I would like to know how many and how much coverage/policies would need to be sold to get to a $500K book of business. I know amounts vary depending on location and such, I just would like to get a ball park idea.
Thanks