Oak Associates

Here is my latest article on the Coronavirus Effect on Agency Value, that will be published by the Insurance Journal this week. Please stay safe and healthy and be patient. We will soon have our lives back!

https://medium.com//coronavirus-effect-on-agency-value-a2f350d9199c

Catherine

Coronavirus Effect on Agency Value Minding Your Business Article for Insurance Journal

Contingency Planning - Most of us don’t want to think about what would happen to our businesses if we were not able to be there one day because of disability or death. Most owners that are key to the organizations know that their firm would be in “real” trouble overnight if something happened to them, and there was not a catastrophe plan or contingency plan in place.

We know about planning for our clients and insuring their risks, so what about planning for our agencies to be able to transition in the event something happens to the owners.
Such a plan is called a contingent buy-sell.

The purpose of the contingent buy-sell is to have a known buyer with known terms to allow for the orderly sale of the business. It is an attempt to prevent a “fire sale” or total collapse of the business upon the death or disability of the owner or owners.

Call us at #707-935-6565 to assist you with your contingency plan. Catherine Oak