Starting an insurance company is surely a lot more tightly regulated than starting a fund. There are various values for "you" here: The professional who manage

Starting an insurance company is surely a lot more tightly regulated than starting a fund. There are various values for "you" here: The professional who manages the fund day-to-day needs to be paid no matter what the company says it does. The owners have a choice of whether to sell the car-insurance side of their business. And people looking to start a new business from scratch have different concerns.