7 minute read
Q&A with Linda McCann
Linda McCann, CPCU, AAI, CPIW is a consultant with Bay Shore Insurance, an independent agency specializing in trucking insurance. She retired as president of the Salisbury, MD agency on Dec. 31, 2023. During her 40+ year career in insurance, Linda served on the IA&B Board of Directors, IA&B Government Relations Committee, and as an instructor.
Q. You and your husband started your agency from scratch in 1985. Tell us about those first months and years in the business! What was it like, and how did you persevere?
A. Our first year was pretty brutal. My husband Bill and I started the agency because we both lost our jobs at the same time when the agency we were running was purchased. Fortunately, we had enough savings that would enable us to pay our normal bills for about 18 months without any income. Our thought was that if we could survive for 18 months, we had it made! We were so fortunate to have so many industry people offering help, encouragement, and assurance that we took the plunge.
We initially shared office space with a local entrepreneur who owned the building. We had one furnished office, and I had a desk in the reception area. Rent was cheap because I also answered the owner’s phone and took messages for him. We needed cheap. We had one company that offered us a contract. We purchased a typewriter, two calculators, and office supplies. We had a phone line installed, bought two signs, joined IA&B, purchased an E&O policy, and were off to the races. At the end of our first month in business, we had written one General Liability policy with a premium of $250. We were on fire!
By the end of 1985 we had made a (small) profit, and I was able to draw a small salary, enough to make my car payment and buy groceries! In the almost 40 years we’ve been in business, we have always shown a profit at the end of the year. Now, some years we ended up cutting our salaries so we would be profitable, but the agency was never in the red. We are very proud of that accomplishment.
You ask, how did we persevere … we had no choice! We had a child, a mortgage, and car payments. Our philosophy is “you do what you have to do to succeed.” We are both high achievers; failure is not an option. Once we got through the first year, we had obligations to our clients, as well as the companies and brokers we represented. We believe in living up to our obligations.
Q. Bay Shore Insurance specializes in commercial transportation insurance. How did you develop that niche, and how has that market evolved over the years?
A. The first insurance job I had was with an agency that specialized in “trucking” insurance. I met my husband through my job; he was working for a trucking company that our agency insured. We married a year after meeting, and within two years the agency had expanded greatly. My boss asked if Bill might be interested in being a producer, since he had the contacts and knowledge about the trucking industry. He came in for an interview, was hired, and quickly became the top producer in the agency.
We both had developed relationships with so many individuals working for companies and/or brokers that specialized in transportation. They knew that we were knowledgeable, honest, and had the skills and ability to succeed. It was only natural that we specialize in what we both knew so well.
When I first started, I needed less than 10 pieces of information to quote a client. You could literally put the information on a cocktail napkin! I now need two pages of information, which includes their life story and the promise of their firstborn if they have an accident. That’s a slight exaggeration!
The trucking industry has evolved as much as the insurance industry and many other entities. There are more government regulations, better technology, and greater expectations and litigious attitudes from the general public.
Q. Looking back over your career, what professional accomplishment(s) are you most proud of and why?
A. I am very proud of obtaining my CPCU designation. It took about eight years of studying at night, after working all day, doing the mom thing at home, and finally picking up a CPCU book. I can’t tell you how many times I woke up at midnight with the book open on my chest! Passing the 10 courses was quite an accomplishment. At the time they were all essay questions. No guessing, you either knew the material or you didn’t!
But my proudest accomplishment is the formation and growth of our agency. I applaud every agency owner out there, just for being able to survive. We have always had the best staff of talented, experienced professionals, and I am proud of them all, past and present. Our staff turnover has been minimal in the past 38 years, which helped us exceed our expectations. Our son joined the agency 15 years ago, and his talents and skills have helped us grow by leaps and bounds. I look at our premium volume now and would never have predicted we would be this large.
Q. You’ve seen industry changes, threats, and trends come and go. What do you consider the biggest challenges and opportunities facing independent agents today?
A. Currently one of the biggest challenges is staffing. As an industry, we must attract younger people. So many of these young individuals have vastly different expectations than many of us had when we were their age. How do we attract and then integrate them into our work environment? It’s a challenge for us to sometimes change our entire operations and how we operate to accommodate new employees. I am quite pleased to see that many agencies are having success in getting younger employees involved.
I think this challenge is also an opportunity, not just for agents, but the whole industry. We can educate a new generation about the industry and its importance to our economy and society. I am happy that companies and agencies are embracing this opportunity to better market our industry to a new generation.
Q. What advice do you have for young people – in particular, young women – who are beginning their career as an independent agent?
A. I have had the privilege of training many young women over the years. My advice has always been to educate yourself about our industry. Knowledge is power! Don’t be afraid to ask questions; if you don’t understand something, ask a more experienced person to explain. Find someone who will not just give you an answer, but an explanation as to why or why not. Advocate for yourself, and don’t limit yourself to taking CE classes that only pertain to your current position. Let your supervisor know you want to expand your knowledge of the industry.
If you want to move into another position, prepare yourself for it now! Work on the skills and knowledge you need for that job and let people know that 1) you’d like to be considered for the position and 2) what you’ve done to be prepared. And, yes, women sometimes need to work harder to obtain the position they desire.
Q. Congratulations on your retirement! We know you’ll remain involved at the agency, but what other plans do you have?
A. I really like being able to go to the gym at 8 or 8:30 AM instead of 5:30 PM! I am learning to play pickle ball and look forward to having fun with friends. I plan to travel more. I love to visit new places, learn about the people and their history, and see the beauty of this great country. The agency has always been my top priority after family, so taking vacations was difficult. I also hope to do more hands-on volunteer work. Best of all, I can go to my happy place – the beach – any day now instead of just on Friday as I’ve done for the past couple of years! Yeah!
