I want to remind folks about my next Event which is a joint Webinar with Roy Johnston of Johnston/Thomas. Roy and I will be talking about “Succession Planning: Create Your Future”. The Webinar will be held on 10/28 @ 9AM and you can Register HERE! Again, this is free of charge. Succession Planning is all about “Who is Next?”. If you are a Small Business Owner, why should you think about the next owner of your business. Do you want to sell it to family? How do you maximize your . If you are a Corporate Executive, do you have a plan to replace yourself so that you can reach the next stage of your career? These are typical questions in Succession. So, create your own next step – don’t wait for it to be forced on you.
I recently spoke to Joerg Olson of Sherzer & Associates about what is happening in the Insurance Business. Here are some highlights from our discussion.
Jim Sackman: Joerg, has there been a lot of people calling you about Earthquake Insurance since the recent quake in Napa?
Joerg Olson: Yes. Anytime there is an event of that size it causes people to think about their coverage. They want to be ready for the next possible event.
JS: What should people know about Earthquake Insurance?
JO: Well, I think most people know that Earthquakes – like Floods – are not covered by their normal Homeowner’s Insurance. In the past, most of the policies has really high deductibles and that has made the Insurance unattractive to many people. We now have a new low deductible policy that I think that people will have a lot more interest in.
JS: That’s great! Anything else new in the Insurance Business?
JO: This is not exactly new but as you know as of January 1st, Undocumented Immigrants will be able to get Driver’s Licences/ID Cards.
JO: Well, we expect an upturn in New Car Sales as these folks now look to get into newer, more expensive cars.
JS: How does this impact you?
JO: Well, new cars with payments require not just Liability but Collision and Comprehensive Insurance. So, we expect this to be a significant revenue stream for us and the Car Dealers next year.
JS: Why will folks come to you?
JO: As an Independent Agent, we get to shop your policy to many excellent Insurance Carriers. Many of the companies we represent have a niche market focus. This means that we can find an excellent policy for your specific circumstance. You would be surprised at the difference in pricing depending on the focus of the carrier.
I would like to thank Joerg for his time. You can contact him at 707-782-1010 or take a look at his website HERE.
As we are into Q4, I want to make sure that people have thought about an Annual Operating Plan for their Business. Unlike a larger Business Plan, an Annual Plan provides very specific ideas of what will make your business work over the next 12 months. If you are interested in such a plan and don’t know where to start, contact me at firstname.lastname@example.org. A properly executed plan will more than pay for itself!
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