Palm Beach Business Magazine

For the past century, Plastridge Insurance Agency has played a leading role in meeting Palm Beach County’s business and personal insurance needs. Since opening its doors in February 1919 in Delray Beach, the family-owned and operated firm has weathered hurricanes, the Great Depression, and the ups and downs of Florida’s cyclical economy.

Led by Chairman and CEO Tom Lynch, and his sons, COO Connor Lynch and Executive Vice President Brendan Lynch, Plastridge Insurance Agency is drawing on its long legacy to serve a growing number of regional, national and international clients. “We are the definition of a thriving, sustainable family business and have succeeded as a result,” said Tom Lynch. “We have set ourselves apart with courage, wisdom, respect and exceptional talent.”

The insurance agency began in a 3,000-square-foot building on Atlantic Avenue in Delray Beach. “We purchased a new building on Northeast Sixth Avenue in 1969, and have substantially renovated and expanded it through the years to its current 7,000 square feet,” said Connor Lynch.

Through the 1940s, the agency’s phone number was simply “1” and its slogan was, “Dial 0 to reach your operator and 1 to reach your neighborhood insurance agency.” “We’ve held on to the belief that we are still the first number you should call with your insurance needs,” said Brendan Lynch.

Tom Lynch purchased The Plastridge Insurance Agency, Inc. in 1974 from his father-in-law, and his sons have been active in the company for more than a decade. Today, the agency has offices in Delray Beach, Boca Raton, Palm Beach Gardens and Stuart, with more than 95 employees providing insurance nationally and worldwide. “We are one of the oldest Palm Beach County companies still active in business,” said Brendan Lynch. “We own all our offices, which demonstrates our long-term commitment to our services.”

All three members of the Lynch family have been active supporters of the Palm Beach County  community. Tom Lynch was president of the Delray Beach Chamber of Commerce in 1984 and served as Mayor of the City of Delray Beach from 1990-1996, when it received the “All America City” designation.

Connor Lynch has been active on the Greater Delray Beach Chamber of Commerce Board, and Brendan Lynch is currently serving as vice chair of the State of Florida Association of Independent Agents and will become chair next year.

An active board member of the Business Development Board of Palm Beach County, Brendan Lynch said, “We support the BDB’s mission of bringing businesses here from outside Florida,” he said. “That is vital to the economic future of our county.” As for commercial insurance coverage, Brendan Lynch recommends that Palm Beach County organizations review their polices every year or after a significant change, such as an acquisition or divestiture.

“Our philosophy is to present the current options available in the market,” said Brendan Lynch. “If there are three, four or five options, we present them all to help our clients decide on the best fit. Everyone has a different risk tolerance, and we want the ownership to make a well informed decision.”

Newcomers to Palm Beach County should also consult with a local insurance agency, because there are some differences in coverage in Florida compared with other states. One example is windstorm coverage for hurricanes, as Plastridge facilitated more than $650 million in claims after Hurricane Wilma in 2005.

“In addition to the risk of property damage, companies and professional firms also have a risk of significant downtime before and after a storm,” said Brendan Lynch. “That can result in lost income, which can be mitigated through a business interruption policy.”

Unlike many agencies, Plastridge handles personal insurance as well as commercial coverage and employee benefits policies for its clients. That includes home, auto, boat and umbrella policies. The agency also serves condominium and homeowner associations, health care facilities, nonprofits and public entities. With its 100th anniversary approaching, the agency has committed to make a $100,000 contribution divided among 10 area nonprofits.

Reflecting on the agency’s centennial celebration, Tom Lynch said, “The secret to our longevity is being honest, ethical and committed to our customers through the decades.”