Middle Peninsula Beacon

Spring 2011

Customer Corner:
Mark Hanna of The Virginia Company Bank

Mark Hanna and Joe Harrow

Virginia Company Bank's Mark Hanna  

with Joe Harrow.

Nearly a decade ago, Mark Hanna went searching for insight as the personal insurance rates offered through a former employer were projected to double. He turned to Ken Johnston, a former colleague now working for Middle Peninsula, hoping to get a second quote to help put the new employer-based package into context. The research and guidance that he got back from Ken and Joe Harrow far exceeded Mark's expectations. Not only did they find much more favorable rates, but they also took the time to answer his questions and provide true guidance. "I switched all of my personal insurance over to Middle Peninsula because of the very thorough customer service they provided," says Mark. "It was great that they found me lower rates, but what really stood out was the time and attention they paid to my specific needs."

What began as a personal need for Mark has evolved into a solid  business relationship. Mark joined the Virginia Company Bank as President and CEO just before it opened in 2005. When he reached out to Middle Peninsula, the two organizations soon recognized that they were well suited to serve each others banking and insurance needs. Both organizations pride themselves on being fully engaged in the local community, enabling them to better address and support the needs and aspirations of their clients. Says Joe Harrow, "When I was first introduced to the Va. Company Bank I liked that their decisions could be made locally, that they were growing and working to support the local community, and that they had an impressive Board. On top of that, they are competitive and easy to work with."

The bank focuses on serving small, locally owned businesses and professional practices, with flexibility in lending services, deposit products and personal banking packages that are tailored to their clients.

Fully based on the Peninsula, the Va. Company Bank currently has 31 employees with offices in Newport News and Williamsburg, and a brand new Hampton office. For a few more months, the Va. Company Bank and Middle Peninsula Insurance share an office building in Williamsburg as the bank prepares to move into its new office on Richmond Road.
Virginia Company Bank Logo
For more information on the Virginia Company Bank, see their website or contact any of the branches:

 

Williamsburg/New Town (757) 206-1904

Newport News/Oyster Point (757) 327-0150  

Hampton/Coliseum (757) 224-4300

 

Giving Back to The Community:
Ken Johnston Dances with The Williamsburg Stars

Ken Johnston Dancing with The Williamsburg Stars

Ken Johnston with Sarah Sensor from
7 Cities Ballroom

"I never thought that I would take to ballroom dancing and perform before an audience of over 600 people, but I did!"
--K. Johnston

Ken thought he was just taking one for the team, representing Middle Peninsula Insurance in raising money for Big Brothers Big Sisters. The event raised over $35,000 for the organization and as Ken will tell you, the personal rewards exceeded his wildest expectations.

What did it take to become a ballroom dancer for the night?  "It is certainly harder than appears," Ken recounts. The hardest part was showing up at the studio the first time. He told us that it was physical and that after the initial shock and soreness wore off, even the rehearsals were fun. Like on the real "Dancing with the Stars," Ken felt the friendship and camaraderie developed through the experience was the best part. Now that the event is over, Ken has organized an event called DWTWS Red Carpet DVD Preview Night at 7 Cities Ballroom. The contestants will gather to view the show on the big screen and reconnect. They are looking forward to hearing all the critiques they missed while dancing during the live performance.

Next year will be the 3rd Annual Dancing with the Williamsburg Stars. Ken enjoyed the experience so much that he has agreed to chair the 2012 event. Mark you calendars for March 3, 2012 and come support Ken, Middle Peninsula and the other Williamsburg stars in their efforts to raise even more money for Big Brothers Big Sisters and Literacy for Life.
In This Issue
Customer Corner
Giving Back to The Community
Did you know...
Hot Topics

Did you know....

 

A Tool for Estate Conservation 

 

Last-survivor life insurance has been a popular estate conservation tool for couples who want to help ­protect their legacy from estate taxes. Because this type of policy pays a benefit after the death of the last-surviving insured individual, it can provide heirs with much-needed cash to help cover final expenses, probate costs, and estate taxes.

 

Read more...

Hot Topics

 

9 Alternatives to Individual Health Insurance Mandate; Will They Work?

 

By Andrew G. Simpson

Insurance Journal

March 29, 2011


There are alternatives to the controversial federal government mandate that requires almost everyone to purchase health insurance, although experts are divided over how effective the alternatives might be in helping to expand coverage to the more than 50 million uninsured Americans.

The experts interviewed by the Government Accounting Office (GAO) identified nine alternatives. In the order of the frequency with which they were cited, they are:

 

1. Modify open enrollment periods and impose late enrollment penalties.

 

2. Expand employers' roles in auto-enrolling and facilitating employees' health insurance enrollment.

 

3. Conduct a public education and outreach campaign.

 

4. Provide broad access to personalized assistance for health coverage enrollment.

 

5. Impose a tax to pay for uncompensated care.

 

6. Allow greater variation in premium rates based on enrollee age.

 

7. Condition the receipt of certain government services upon proof of health insurance coverage.

 

8. Use health insurance agents and brokers differently.

 

9. Require or encourage credit rating agencies to use health insurance status as a factor in determining credit ratings.

Read more...

Excerpt reprinted with permission from

Insurance Journal logo


Serving Eastern Virginia


Williamsburg (757) 229-0841  |  Deltaville (804) 776-6082  |  Gloucester Point (804) 642-2890