IIAV Past President - M. Stevens Harris

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This is the twenty-sixth in our series of conversations with former leaders of Independent Insurance Agents of Virginia. Steve Harris served as IIAV Chairman of the Board having been elected in 2004 at the convention in Williamsburg, VA.

If you ever run across someone who decides to switch colleges mid-course from Georgia Tech to Auburn (pretty darn big deal if you are a college football fan) and is a whiz at playing gin and bridge, it's a safe bet he knows something about odds and is not bad at sizing up any given situation. Such was the case of Atlanta-born M. Stevens Harris.

You see, after graduating from high school in Atlanta, Steve attended Georgia Tech for two years. He genuinely wished to enroll at University of Georgia; however, in-state tuition rules at the time made such a move impractical and Harris opted for Auburn University where he graduated in 1962 with a degree in economics. While at Auburn, Steve met and later married his lovely wife, Maggie, who hailed from Decatur, Alabama.

Like many at the time, Steve thought he could take a few months off after graduation and enjoy life. You know . . . have some fun. Uncle Sam, however, thought differently. The Tuesday following graduation, Steve received his official draft notice. The conflict in southeast Asia was getting uglier by the day and Steve opted for Officer Candidate School with the Navy in Newport, Rhode Island.

After OCS, with the war raging in Viet Nam, Harris could have found himself headed for the Mekong Delta or running patrol boats up and down the coast of the Gulf of Tonkin. Instead, Harris’ home for much of the next four years was Eleuthera, Bahamas. Actually, his mission was, as he puts it, "Keeping an eye on about 10-15 Soviet subs in the Western Atlantic." For the remainder of his tour, he was sent to Norfolk, Virginia.

Steve enjoyed the Navy and proudly served for another twenty years in the Navy Reserves. A great deal of his time was spent in Washington and, more specifically, the Pentagon. He often traveled to Brussels and Germany . . . sometimes up to three weeks at a time in his military capacity. In 1986, he retired from the Reserves as a Navy Captain.

In 1966, after his four years of active duty with the Navy, Steve began working with a major chemical manufacturing firm. He readily admits that he "did not care for it at all." One of the guys in his Reserve unit was well aware of his dissatisfaction with his work and suggested that he contact the Aetna Insurance Company as a possible new career path. Steve approached Aetna and began working with the insurer in 1967 as a Marketing Representative covering nearly one third of the Virginia territory. In those years, Aetna actually had four offices in Virginia alone. Steve was hired by and worked for none other than Dan Peacock, CPCU (IIAV Past President 1983-1984).

After a few years with Aetna, Steve joined the ranks of one of Richmond’s larger agencies, Mutual Insurers.  In 1973 Harris took an enormous step by leaving Mutual Insurers and forming Heritage Insurance Agency, which was part of Heritage Savings & Loan.

1976 was a wild time in the property and casualty insurance business. Inflation was on the fast track upward. Agents and carriers could not keep up with the rapidly rising property values and often had to endorse property policies mid-term to avoid co-insurance penalties. Premiums were also skyrocketing. The tremendous downside was that markets were shrinking fast. Many agents were placed on moratoriums for writing new business. With these conditions facing agents, Harris seized the opportunity and purchased the Richardson Insurance Agency from William Richardson in Powhatan County. The agency grew rapidly and on January 1, 1981, Harris sold 50% of the agency to long-time associate Ruth Boatwright. Harris holds Ruth in high regard and respects her enormously. Harris recalls that over the years the two of them "had a serious business discussion or two . . . and she was always right."

Just over three short years ago, Harris and Ruth sold the agency to Amy and Michael Potter, Ruth’s daughter and son-in-law.

Harris has been an active participant in local civic, community and business organizations over the years. Just a few of the organizations he’s served include President of the Powhatan Business and Professional Association; local Chamber of Commerce Board Member; President of the Powhatan Lions Club; President of the Virginia Chapter #1 Isaac Walton League of America; Chairman of the Powhatan Economic Development Authority; and the Vestry of St. Luke’s Episcopal Church. He currently is a life member of the National Rifle Association, Rocky Mountain Elk Foundation and American Legion.

In addition to his love of playing bridge and gin, other passions include big game hunting. Usually at least once each year, Harris heads off to Hayden, Colorado, for some hunting. He also belongs to two nearby hunt clubs. Take the cards out of his hands and find the hunting season past, and you quickly learn that Steve is also an avid fan of golfing and of good Dominican cigars.

He has also proudly served the insurance industry. In 2002, the Independent Insurance Agents of Virginia selected him as IIAV Agent of the Year. Steve served on the IIAV Legislative Committee for years and as its Chairman, as well. Harris also served as Chairman on the IIAV P&C Committee. "Getting involved with such groups," Harris asserts, "permits one to learn what’s going on before the rest of the industry. It is a great business advantage."

On June 29, 2004 Harris was tapped as IIAV Chairman. It also happened to be his 65th birthday and Harris recalls that "I became eligible for Medicare and was selected as IIAV Chair on the same day."

During his term as IIAV Chairman, he and others worked extremely hard to hold a joint convention with Professional Insurance Agents of Virginia. Harris adds that Tom Welch, CPCU, CIC (IIAV Past President 2005-2006) worked feverishly as Convention Chairman on this endeavor, which was bittersweet.

The expansion plans for enlarging the IIAV building were being formulated and Harris served on the committee and is still a generous Building Fund contributor. He proudly recalls participating in the ribbon cutting ceremony once the new construction was complete. This, Harris reflects, was "quite an achievement for the Association."

Steve served, too, on the IIAV Search Committee mandated to search for and select a candidate to fill the shoes of outgoing IIAV Executive Ted Smith. The process was deliberate and tedious, Harris explains, but the result of their efforts was the selection of Bob Bradshaw as the new President and "we picked the right guy."

As he finished his term as IIAV Chairman, Steve was presented a Navy Sword as his parting gift. This was very special to him and a most thoughtful gift.

Reflecting on his career and searching for sage advice for today’s insurance industry newcomers, Harris states, "This is the third soft market I’ve been through. They are all tough and costly. But they will end." Harris adds, "Companies are forced to work for pure underwriting profits because other investment vehicles are so weak."

"This is a terrific industry. Invest in it and you’ll reap rewards," proclaims Harris.

Coming from a guy who knows when to pass, raise a bid and fold, these are certainly words worth heeding. M. Stevens Harris has always seemed to have a special guiding compass steering him correctly. We could all stand to pay attention to the course taken by Captain Harris.


If you missed the previous articles you will find them on our website at www.iiav.com under News. 

Danny Mitchell (dmitchell@iiav.com), IIAV Membership/Marketing Director