Own It or Rent It?

By Tim Finster

This is not a phrase normally associated with the purchase of insurance. Usually it’s reserved for discussions about real estate, cars or office equipment. But it’s possible with insurance too. The major corporations have done it for many years.

Who was the first? I don’t know, but it might have been Kaiser. Henry J. Kaiser was the founder of the Kaiser Industrial Complex. In 1939, he opened a cement plant in Cupertino, CA. A creek ran through his facility, Permanente Creek. Henry decided to do something to get control of his employee’s health care expenses. He created a program to better serve the health care needs of his employees, reducing his annual costs and providing better health care for his people...