The volatility and uncertainty of 2020 has made insurance a bigger deal than ever before. In this environment, commercial insurance agents have become trusted advisors who help free agents operate in a turbulent and fast-changing world.
Not only are business owners contending with the insurance needed to keep their businesses going. They are also dealing with new coverage demands and the constant need to evaluate their systems to make sure they’re compliant, accurate and consistent.
How has the pandemic impacted businesses and their insurance? What are the biggest concerns of business owners right now? What areas of insurance should we be paying attention to?
In this episode, Commercial Insurance Advisor and Vice President at Associated Agencies, Julie Silverman talks about how the business insurance world is responding to the pandemic.
Watch the Full Episode:
Many companies who have been able to pivot are actually growing right now because they’ve become so essential, but this has also created new insurance concerns.
Three Things You’ll Learn In This Episode
- How insurance is helping business owners retain their valued employees
One of the biggest challenges business owners are facing is being able to keep key employees onboard, and affording to pay them in some capacity to show that we value them. Key person insurance and other protections, benefits and bonuses have become a lifeline for free agents.
- The impact of growth on insurance
While some businesses have been negatively impacted by the pandemic, many other companies are seeing an explosion of growth and demand in their services. Because they are busier than ever before, business owners are struggling to keep up with the new insurance coverage needs of operating a business in these uncertain times.
- Why entrepreneurs are so necessary right now
This is not a bad time to get into business, and it’s not predatory to want to get into business. Many areas have a demand for businesses who can become lifelines and trusted advisors to help them navigate these times. There’s still a need for business leaders who can step in and do their part to help their communities.
Guest Bio
Julie Silverman is a Commercial Insurance Advisor and Vice President at Associated Agencies, Inc. She is a Strategic Advisor in helping organizations and individuals with their primary goals and initiatives. Associated is a full service brokerage firm that assists individuals and businesses with their Insurance & Risk Mitigation, Compliance, Cyber Security, WC, EPLI, Creative Employee Benefit Programs and all individual insurance needs.
Associated’s longevity in the business (over 130 years) allows them to draw upon years of experience, and unparalleled expertise. They service clients nationwide as well as globally, which allows them to create innovative solutions to all clients’ risk management needs that will in turn drive down costs and maximize compliance.
To get in touch with Julie, send an email to jsilverman@associated.cc.
