Harris, Klinger Comment on Agency Succession

PIA members share their thoughts on the subject of agency succession planning.
Harris, Klinger Comment on Agency Succession
February 19, 2019

PIA National Past President Andrew C. Harris and former PIA board member Robert Klinger shared their thoughts on the subject of agency succession planning in this month’s cover story in the National Underwriter [Best practices for insurance agency exit and succession].

Harris, CEO ofLiberty Insurance Associates in Millstone Township, N.J., started succession planning when his son expressed an interest in being in the insurance industry. Harris gave his son an online career aptitude test as a gift to see what industry he might have an affinity for. It turned out that his son (also named Andrew) had a strong correlation for insurance and business.

Harris informed his staff from the time he brought his son into the agency. “My son is my perpetuation plan,” he told them.

Klinger, president and CEO of theKlinger Insurance Group in Germantown, Maryland, believes that agents need to start planning from day one, saying “Begin with the end in mind.” He advises agency principals to consider succession and exit strategy as part of their annual business plan, noting that insurance agents need to do a better job of their own risk management. You can read the full article here.

 

 

 


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