Three centuries of service highlight Burke, Powers & Harty firm

By Thomas Wilson
STAR STAFF
twilson@starhq.com

   BRISTOL, Tenn. -- Tracing its roots back to the late 19th century, the insurance firm of Burke, Powers, & Harty, Inc. on Volunteer Parkway has enjoyed over a century of success as an independent insurance company.
   Company officials say the years of success play a enormous role in building the firm's client base. John Harty, principal partner with the firm, said new clients are typically drawn by the agency's knowledge of insurance business and the diversity of policies offered.
   "They change for the expertise they see in the agency here," said Harty. "They want to know they are dealing with a knowledgeable agent."
   The company selects a variety of coverage from 14 different insurance firms -- including Unum Provident, Progressive and Hartford Mutual -- with each tailored to meet a client's needs. Insurance coverage includes commercial property and liability, home-based businesses, and worker's compensation coverage. "Ordinance" insurance provided through the firm offers coverage for business owners to rebuild a structure conforming to existing building and zoning codes if their business facility is destroyed by fire or a natural disaster.
   The firm also provides thousands of policies covering personal insurance including life, auto and homeowners insurance. Harty said the firm offered some health insurance but were not as active in that sector of insurance as compared with other agencies.
   In addition to personal insurance lines, the firm also is a major player commercial insurance around the region. Burke, Powers & Harty insure churches, hotels and restaurants, residential developments, dentistry practices, jewelers, and garage businesses for thousands of policy holders, according to Harty.
   "We get a lot of our business through referrals of existing clients," said Faye Ashley, manager of personal insurance lines with the firm. "I think they come here for better coverage."
   The largest number of claims filed recently occurred two years ago when a hailstorm damaged hundreds of vehicles and homes in the areas of Bristol and Sullivan County. "We paid out millions of dollars in claims from that," Harty said.
   Harty said a major challenge facing the entire insurance industry in Tennessee is the state's existing worker's compensation formula. Like many facets of insurance, premiums for worker's compensation insurance have risen substantially in recent years resulting in higher overhead costs for employers.
   Burke, Powers & Harty employs 12 insurance professionals and office workers. Principal owners of the firm are Benjamin Powers, B. Rush Powers and Harty. The firm is located at 1236 Volunteer Parkway in Bristol. For more information, call 423/764-2112 or visit the firm's Web site, www.bphagency.com.