Featured Client Highlight – December 2023
Company Name:
MB Insurance, LLC
Number of Employees:
7 total team members
When Founded:
We started selling Insurance on the Western Slope of Colorado back in March of 2000 with a dream to build a team of High-Level Professionals in each specialty discipline for insurance: Business, Farm and Ranch, Health and Life Insurance and Home and Auto. We wanted to offer a platform for other agency professionals to join us and build a career in insurance with our team, tools, and systems.
What services do you offer/Needs that you meet for your clients?
Our agency is an Independent Insurance Agency. This means that we are partnered with dozens of different insurance companies and use our access to these markets to help us find the best product, forms and appropriate coverage for each client’s unique risks.
- We specialize in the commercial space which means business.
- We offer insurance solutions for everything from Property, General Liability, Professional Liability and Workers Compensation.
- We have a dedicated Health Insurance and Benefits solutions team that works with health insurance companies to provide options for businesses and individuals looking for new options.
- We also have a team of Farm and Ranch specialists dedicated to their craft with over 40 years of experience helping our Ranchers and Farmers with their insurance needs. Life insurance is a tool that we will talk with everyone about.
Who takes care of your life insurance? We do.
Advice for businesses in 2024.
2023 proved to be the most disruptive year for Colorado in this industry we have ever experienced. Catastrophe losses resulting from volatile front-range storms, flooding, as well as fire losses from prior years and the realized supply chain slowdown that started with COVID-19 have all had huge impacts. Reconstruction costs have skyrocketed. Premiums have increased for nearly all of us as Colorado showed the second-highest home and auto rate increases in the country averaging %55. Insurance carriers have left the market space leaving some wondering if they will even be able to maintain insurance at all.
Currently, our discussions with clients include letting them know we are in this “with them”. Whether you are an individual or a business, it feels like right now the consumer is fighting to prove their continued insurability and we are working with our clients to help them implement recommended best practices to stay attractive to carriers. Sometimes this is as simple as maintaining a “curb appeal” for a property. Carrier inspections have been increased in how often they are performed and the detail with which they are completed. Keeping property looking good and kept in good order will go a long way in helping this.
- Trimming tree limbs back from the property helps keep critters from getting on the roof or into buildings.
- Other things to pay attention to would include cleaning up debris in yards or property, fencing upgrades and even a fresh coat of paint can prove a big help for an inspection report to come out more favorable.
We are all consumers when it comes to insurance and being an “attractive risk” has never been more important than it is right now. With carriers being more strict with underwriting, time spent in advance of your renewals with your agency representative will prove to be your biggest asset in maintaining your insurance this next year. In many cases, there may be fewer options and this means staying with carriers longer and even through rate increases.
What is the spirit animal of the company?
The Bald Eagle. The Eagle flies above looking for opportunity. We are always looking for the right insurance for our clients and seeking out the best solutions. It takes an eagle eye to spot the winner when it comes to insurance. Our team loves our country and what seems more American than the Bald Eagle?
Best part of being part of our community?
Seeing the people we insure and spending time with them outside of the office, especially when we are out enjoying the outdoors is a rewarding experience. It is on the many hiking and mountain biking or horse trails we have access to out here, the baseball diamonds across the valley, on the waterways or in the mountains, we count ourselves blessed to be part of the Western Slope of Colorado. If we see you out there make sure to say “hi”, you will make our day. We are biased and say the “west slope is the best slope”.
How CommWest has been your technology partner?
CommWest has been a valued business partner to us since day one. They have provided us with all of our communication and technology services for years and have an amazing team of professionals who answer the call whenever it arises. Technology seems to move even more rapidly forward than insurance and CommWest keeps us up to speed so we can keep things running smoothly and help our clients.