RBEHINID THE WITH RICHARD RANKIN [Central Penn Business Journal (PA)]
By Vogelsong, Jennifer | |
Proquest LLC |
chairman, president and CEO,
Q: What does your company offer?
A: We are an independent insurance broker and risk-management consultant. We focus on property and casualty insurance for businesses and individuals; employee benefits - including health insurance; safety and risk management; claims consulting; human resources consulting; wealth management; and third-party administration of employee benefit programs.
How has your business changed over the years?
When our agency was born in 1930 with
We have also expanded geographically. Although our business is based in
What are some of the challenges your industry has been facing recently?
The Affordable Care Act is probably the biggest thing right now. We're in more of a consultant role rather than the traditional role of an agent selling a product. We're helping our clients plan and look forward not only for the onset of this, but so they can prepare multiyear from a standpoint of coverage and cost.
The last couple of years, we have also had some pretty catastrophic weather events, so the industry has seen an increase in dollars paid in terms of catastrophic losses. That is causing some changes as far as how we look at property. There will be some increased cost to clients.
How are you preparing clients to meet the changes coming with the Patient Protection and Affordable Care Act?
A lot of education. We held four recent seminars and invited clients and prospects - and anyone in the community - to listen to staffpresent the changes and how it will impact them. We talked about the initial costs and how to plan. We had a larger response to those seminars than anything we have ever done before.
It is a big issue for businesses. When the law was passed initially, they weren't paying a lot of attention, but now it is getting closer, and more rules and regulations are coming out.
What are some of your plans for the future?
To continue the growth mode we have been in. Last year, we did a fairly major acquisition when we acquired
What are you most proud of?
We have a great team here. Our 180 associates work very hard and very well together. Last year, during the acquisition, it was a tremendous amount of work, and everyone pulled together.
-
About
chairman, president and CEO,
Time with the company: 34 years
Education: Attended
Professional involvement: The brokerage is a member of the
Family: Wife, Vanessa; daughters Mary, Lisa and Amy
Hobbies: Exercise. He runs and weight trains, participates in local road races, plays a little golf and hunts.
Little-known fact: He owns a 65-acre farm in southern
Copyright: | (c) 2013 Journal Publications Inc. |
Wordcount: | 648 |
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News