Recently the FACC welcomed Cyril Triquere, Director of Business Development at Fields Group Insurance. While he recently was nominated to this role, he has over 10 years of professional experience and is has a depth of knowledge in diverse situations, including international coverage. One of his responsibilities includes helping international companies to comply with U.S. insurance regulations.
Read on to learn more about Fields Group and Cyril's motivation for joining the FACC.
FACC: Fields Group Insurance provides personal insurance, business insurance, life insurance and risk management assessments. In your opinion, what unforeseen circumstance do businesses most often overlook in their coverage?
CT: Business owners and professionals will tend to cut corners with their insurance as a way to maximize their growth potential. However, this strategy could have some dramatic consequences for the survival of their business in the long run. As companies experience growth and expansion, they often forget to discuss the progression of their business with their insurance agent leaving potential gaps in coverage or exposure that weren’t originally contemplated when setting up their insurance (i.e. add new location, add coverage for employees located in a different state, new products or operation). Gaps in coverage could lead to a carrier denying coverage and leave the insured financial responsible. The same thing can happen with your personal life. A simple incident (such as a dog bite) could have some serious financial consequences. That’s why having an agent that you trust, who understands your exposures and who can explain the different coverages is so important. Insurance should provide peace of mind, not headaches.
FACC: The French and American systems are very different in regard to insurance. What is one piece of advice you would give to a French expatriate or entrepreneur when starting their life or business abroad?
CT: I will strongly encourage business owners and professionals to learn the laws of the state they plan to live in or do business in and contact an insurance agent who will be able to explain the different types of insurance available in the marketplace. Certain coverages are mandated by the state (Workers Compensation, automobile insurance for example). If these coverages are not in place immediately, you could face steep fines from the state. Having an insurance agent who can help you understand all the coverage parts and put in place an enterprise risk management insurance program will best position your business in case of an incident. Insurance is a contract of trust that could be easily broken if the business owner or professional does not have the proper guidance.
FACC: For real estate, New York is a very specific market. Your company provides renters insurance and condo and co-op insurance. How do you asses the needs of your clients, what is different about your approach?
CT: We tailor the coverage to fit the individual’s needs, not the requirements of a co-op, condo, or lender. Oftentimes, the requirements from a certain building or property management company will be enough for them to be covered but does not go far enough to make sure that the insured is covered adequately. Lack of understanding leading to being underinsured is often exposed when something wrong happens. At Fields Group Insurance Services we don’t use a one size fit all approach. We take a look at the overall picture to offer the best coverage at the most competitive price to our insured.
FACC: What are you hoping to gain from your FACC membership and what knowledge or know-how do you have to share with other members?
CT: We’re hoping to grow meaningful relationships with members where we can build trust and have the opportunity to showcase our expertise, knowledge of the products and experience to the French community. We feel this will create a situation where everybody will benefit as many people and businesses don’t have proactive insurance agents that constantly work to make sure the insured is well covered and protected. We want to share our knowledge by offering workshops and becoming a resource for the FACC members.
Interested in discussing with Cyril and welcoming him to our network? Login to the FACC Member Directory to connect.