Page 5 - COVID-Proof-Your-Agency

Chapter 1 – Introduction and Background | Blew, Caldwell, Masiello

https://covidproofyouragency.com

Chapter One - Introduction and Background

At the time we are writing this book, the COVID-19 pandemic has disrupted huge swaths

of the economy throughout the United States and the entire world. Not since World War II has

there been this kind of universal impact. Right now, every business, every person, every man,

woman and child, every segment of our society, every segment of the business community is

being impacted by the coronavirus. No one knows how long this pandemic will last, or how bad

it will be in human or economic terms, but it is clear that it is, and will be, a serious economic

problem lasting months and perhaps years. While there will be economic retrenchment there will

also be a recovery eventually. Some speculate that the recovery will be quick and immediate

looking like a “V” on a graph. Others speculate it will look more like a “U” with a long period of

relatively low recovery before an upswing. Still others think it may look like a “check mark”,

where it's a slow and gradual recovery that lasts one, two or even three years. During the crisis,

and especially as our economy recovers from it, we believe there will be enormous opportunities

for insurance agency entrepreneurs who are ready and positioned to take advantage. There are

also challenges and threats to be met.

1