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Just after the turn of the century, Phillip Barney, a personable young man graduated from San Diego High School. He knew little or nothing about insurance, but with the determination that permeated the era, he and a classmate, Stewart Kendall, rented an office and proudly announced they were in the insurance business.
The year was 1909. There was little competition because there was little to insure. Automobiles were still a rarity. Major industries were yet to come. And hardly anyone bothered with personal liability. The new partners scratched out a living selling mostly fire insurance - on stores, merchandise, homes and farms. The business was uncomplicated. The two partners simply got the orders, and then wrote to the insurance companies to send out the policies.
Shortly thereafter, Lorenz Barney joined the firm, Kendall went out on his own and the lasting name of the firm became Barney & Barney. The two were the sons of George L. Barney, a prominent real estate broker. The brothers followed in their father's footsteps in the real estate business, but continued to sell insurance. For nearly 40 years, the brothers would remain partners until Phil left and took the real estate business with him.
When the Great Depression struck, premiums were virtually uncollectible. Because of the firm's excellent record, and with cooperation from the major insurance companies, Barney & Barney weathered the storm.
In 1941, the nation was plunged into World War II. The war brought people and industry to San Diego, and as San Diego grew, so did Barney & Barney.
The Firm Grows - A Philosophy Develops
In the mid-forties, a unique philosophy began to develop that would serve to establish Barney & Barney as one of the largest insurance firms in California.
Insurance was now becoming extremely complicated -- contracts were changing and becoming more sophisticated. Barney & Barney began to recruit the finest specialists it could find to head up departments in each phase of insurance - top men and women who knew and understood insurance law, risk management and control, and insurance analysis - how to get maximum protection for the fewest possible dollars.
During that era, Barney & Barney developed the team approach - a team that could provide in-depth, specialized service at every point in the insurance spectrum.
In the 1930s, 40s and 50s, the growth of the firm was gradual, positive and emanated to a degree from the general agency relationship with the Hartford Accident & Indemnity Company. Barney & Barney was selected by Hartford as the local firm. Barney & Barney in turn selected agents in the outlying areas of San Diego to work for Barney & Barney under the Hartford name. A key element in the firm's maturing process was the development and execution of its perpetuation plan, established in the mid-50s to bring younger people into the partnership as equity owners, which led to accelerated growth. The decision on the part of the then partners permitted younger people to enter the firm as partners on a buy-out basis over a period of time.
The practice of offering partnership to young talent is still the lifeblood of Barney & Barney today. The expanded opportunity through the general agency franchise to develop a presence in all of San Diego County was another contributing factor of the firm's growth.
Prior to the 1960s, San Diego's economy was largely based on the defense industry. Advancements in technology changed the local economy as electronics and high tech products were being manufactured here. In the late 60's, Barney & Barney shifted from simply selling insurance to brokering it. This allowed the company to have a special license to sell insurance for another company, while not being contractually tied to the policy sold. But Barney & Barney has never given up the its heritage of building strong bonds with clients and companies alike.
The 1970s, 80s and 90s brought new opportunities to Barney & Barney through the growth in professional liability and employee benefits. The company grew from around 40 employees to well over 150. Barney & Barney became heavily involved in the professional liability field with doctors, dentists, lawyers, and real estate brokers as clients. The company also developed a specialty in group health and welfare, and pension plans. This evolved into approximately one-third of the firm's income with such prestigious clients as the County of San Diego, San Diego Unified School District, the San Diego County Bar Association and the San Diego County Medical Society.
Barney & Barney continues to reinvest in itself by hiring the best and brightest professionals and offering a wide variety of products and services. With the continued growth in San Diego's technology, life science and electronics industries, the company developed a niche group of professionals who serve the special needs of those emerging growth industries. The combined number of employees and principals has grown to 180. Barney & Barney continues its commitment to remaining privately held.
In the year 2002, the firm develop a new brand in order to revitalize its look and deliver a meaningful message to both its employees and the community at large. After conducting extensive research, the company developed a new logo and tag line that more accurately depicted a company that is growing with the San Diego community. The company's new tag line, "We Listen. To Insure Your Success™" was developed.
Listening to client needs is the number one reason the company has enjoyed success.
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Lisa MacLarty Director of Corporate Communications
(858) 550-4966
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