P&L: Priorities & Lifestyle Episode 18

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P&L: Priorities & Lifestyle Episode 18 -

Planning for Your Business Transition with Trey Dacy

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P&L: Priorities & Lifestyle Episode 18- Planning for Your Business Transition with Trey Dacy

Trey Dacy is a partner at Insurica, an insurance broker specializing in construction, energy, manufacturing, and healthcare. He has decades of experience in the industry, particularly in commercial property and casualty insurance, making him an expert in business protection. Before merging with Insurica, Trey was the owner of First Texas Insurance Services. 

Trey joins me today to discuss the role insurance plays in business transitions. He describes what Insurica is, its services, and what makes them a unique broker. He shares some of the mistakes business owners make when selling their business. He explains the kinds of insurance owners need to consider for different transactions. Trey also provides actionable advice for finding insurance agents, umbrella policies, and hiring attorneys.

“When you fail to plan, you plan to fail.” – Trey Dacy

This week on Priorities Lifestyle:

  • What Insurica is, it’s history, and the services they offer
  • One of the worst financial mistakes you can make as a business owner
  • Why it’s challenging to get young people to be interested in a career in insurance
  • The emotional toll of transitioning a business
  • What it’s like working with private equity markets
  • Risks and concerns that arise in the process of selling a business from an insurance viewpoint
  • Why hiring an attorney can be a significant financial decision
  • Trey’s advice for finding insurance agents
  • The advantage of umbrella policies when it comes to car accidents
  • When owners should think about insurance
  • Why Covid-19 is a bad example of how insurance works




Our Favorite Quotes:

  • “There’s liability associated with ownership of anything.” – Trey Dacy
  • “Don’t think you can get through something like a transition without it taking an emotional toll.” – Rob Schulz
  • “If you have some planning in place, it can help so much with the emotion in getting through a business owner’s death.” – Rob Schulz

Connect with Trey Dacy:

About Rob Schulz and P&L Podcast

The P&L Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company. 

Email Rob at rob.schulz@schulzwealth.com with questions, comments, and to schedule a one-on-one conversation. 

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