We’ve been talking about building your financial team, and we hope the information has been valuable to you! First of all, if you need to catch up, check out our articles on why you need a financial team and how to get started. Now we’d like to get into the subject of team members. Who will you choose for your financial team? It’s time to build up your roster.
First up? Your insurance provider.
At Ten Key, Inc., we work with many excellent insurance professionals, and we’re happy to work with yours. We asked one of our resources to share some info with us about how insurance fits into your financial picture. We’d like to thank Kaitlyn Pintarich of Berry Insurance. She provided insight into an insurance agency’s role on your financial team. Berry Insurance gets to know your business. Through their website, they also share local events and education that will interest you and help you run your business better.
How your insurance provider works with your financial team
An insurance provider deals with all the members of your financial team on a regular basis. For example, when you are negotiating a contract that has insurance requirements, your lawyer may need to consult your insurance agent to determine the appropriate coverage so it meets legal requirements and also fulfills your needs. Also, your insurance agencies may need to work with your Certified Financial Planner to obtain financial statements when they’re quoting insurance plans. This is because they will need accurate financial numbers for your insurance coverage. An insurance provider has many opportunities to play a key role on your financial team.
In conclusion, financial issues like cyber liability, disaster planning, and business interruption coverage all have an effect on your insurance needs. Your insurance agency can help you understand and mitigate risks. This will enable you to avoid future problems. On your financial team, your insurance agent needs to cover all the bases!