Why are insurance companies afraid to compete?

[sinkingfeeling]

I'm buying a second house (a foreclosed on property) and was just told by two different insurance companies that their 'underwriters' won't insure it because another company insures my primary house. Now get this. I couldn't find any insurance company willing to insure my primary, 150 yr. old National Registry house 15 years ago. The house is here in Arkansas and it's insured by Travelers' in Boston!

The company that insures my cars wouldn't insure the house either.

Why is this? Do insurance companies write the rules?

[John Q. Citizen]

1. When we take a socialistic concept like insurence and try to fit it into a capitalistic

concept like corporations, it doesn't work too well.