Risk Services Of Arkansas - November 2019

SPECIALIZING IN YOU Agriculture Ministries Education Environmental Hospitality



Manufacturing What I’m Grateful for This Year The Purpose of Insurance November 2019 Staffing Transportation Health Care Energy Construction Financial

A friend of mine who works in life insurance once told me, “You will never know how much life insurance matters until you deliver a check to a grieving widow who didn’t know how she was going to pay the bills and take care of her children after her husband, the primary earner, unexpectedly died.” Being in insurance is an interesting business. On the very best day, you never get any calls because no one needs to use their insurance. Then there are those days when someone calls because their building is literally on fire. This is the kind of call I got very early in my career. I’d been in the independent agency side of the business for about three years when my client, the CFO of a business, called to tell me his building was on fire. I drove out to the location and saw the firetrucks battling a massive four- alarm fire. They eventually put the flames out. When it was safe to go inside, I joined the CFO and a fireman to walk through the building. Water was still dripping from what was left of the ceiling. Even after the fire was out, the stench from the smoke was unbelievable. I had to throw my clothes away that night when I got home. It was a total loss. The next day I had a meeting with the business owner and the CFO. The owner was still in a state of shock. His entire business had literally burned up. During the meeting, I told the owner that he had business interruption insurance. It was something the CFO and I had preplanned. This kind of insurance would provide for lost profit, pay continuing business expenses and keep his people paid during the renovation of the building

challenges and transformations. It’s humbling, and something we’re very grateful for. This Thanksgiving, we want to express our sincere gratitude to our clients. Insurance and risk management is a key component for businesses to be able to function smoothly in today’s world. We know we’re not the only broker in town, so when we say we’re thankful for our clients, we really mean it. We literally wouldn’t be here if it wasn’t for your support and trust in us. Thank you for allowing us to have this role in your company. We’re honored to be involved in your business, to help place your insurance, and to provide our advice and service. Please have a happy Thanksgiving! We hope your holiday is everything you want it to be.

while he had no sales or revenue. When he heard this, he literally broke down and cried. That was the day I realized how important insurance can be. Not everyone buys business interruption insurance, and maybe not every business needs it, but it’s the kind of insurance that needs to be set up properly. I still thank God I had done it right for this client. Things ended up working out like they were supposed to. The owner survived the shutdown and got his business back into operation. I was even invited to the grand re-opening! He kept working until he was ready to retire and sold the company years later. This was such an impactful experience so early in my career. It really defined how I viewed insurance and my job as a whole. Really and truly, this is more than just a job to us. In many cases, we become a pretty vital part of a business. There are many people in our company who have been working with the same clients for decades and have helped those businesses go through major

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