REVEALED! Stephen Folan of The Folan Agency
An Interview with Steven Visco, Ph.D, AAI
I recently sat down with the newly installed President of the Tri-County Independent Insurance Agents Association and had a fun, informative and interesting look into his past, present and some of his views of the insurance industry.

I hope that you enjoy this article as I had doing the interview. Without further ado...I bring to you Stephen
Folan revealed!

TL: How did you get into the insurance business?
SF: When I was 18 years old, I was involved in a car accident, and broke my finger. Unable to work as a laborer, my father told me to help at the office. Thirty years later, I’m still here”

TL: What was your mother’s & father’s name?
SF: McDara P. Folan, Jr. and Patricia (nee Cribbin)...

TL: What did they do for a living?
SF: Dad was a partner at the Frank O’Rourke Agency (soon to be The Folan Agency), and mom was a mother of five who became the head of the surgical resident staff at North Shore University Hospital in Manhasset.

TL: If you didn’t go into insurance what would you have done for a living?
SF: Become a successful Wall Streeter.

TL: Who is the most influential person in your life?
SF: My Mother. She showed me how to step over adversity. She is a fine example of never compromising your values.

TL: If you could have lunch with any person living or dead, who would it be and why?
SF: President Lincoln. Born a poor man, he became very successful and articulate. I would love to hear about his fears and aspirations during that trying time in our country’s history.


 


TL: What was your childhood ambition/what did you want to be when you grew up?
SF: A New York Ranger. Being a child of the 60s, I thought being an astronaut would be cool, too.

TL: What is the largest single policy premium you ever wrote?
SF: I don’t remember the premiums, but the commission on a Self-Employment Pension paid my two kids’ Catholic high school bill one year.

TL: Do you remember your first sale, what was it & when?
SF: No really, but I remember having to write assigned risk auto policies for clients’ children when I was a few years in the agency. Minimum coverage on a 17 year old male with driver’s training in Port Washington was $812.00!

 

TL: What is your one indulgence?
SF: Anything from the bakery...rolls, donuts, bread, honey buns, cookies...mmm

TL: Yankee Fan or Mets Fan?
SF: I’m one of those few people that root for both teams, but deep down it’s orange and blue.

TL: What is your favorite movie?
SF: The Blues Brothers or Trading Places.

TL: What is the strangest place you ever closed a sale?
SF: I recently sold a homeowners policy to the manager of the pro-shop while he was sharpening my skates.

 

TL: Who is the most famous client you ever insured, past or present?
SF: Bill Torrey – the GM of the NY Islander dynasty, or the publishing company Hartcort, Brace & Jovanovich. Billy Joel came to our real estate department once, but he didn’t buy the house.

TL: What was your first car?
SF: My first and favorite was a 4-speed Mustang…unfortunately, that was the car totaled in the accident that got me into the insurance business.

TL: Do you remember the cost of a gallon of gas when you first started to drive?

SF: 42 cents…I remember all of us scrounging up $2.00 to give to the friend who was driving that evening, and we would ride all night. I filled my Mustang with $7.00!

TL: What is your current ride?
SF: 2008 Lexus ES350

  TL: What is the farthest distance you ever traveled to make a sale?
SF: I sold a contractor’s GL while at my daughter’s national softball tournament in Raleigh, NC.

TL: What do you like most about your job?

SF: Meeting and talking with people.

TL: If you could have any Super Hero power what would it be?
SF: Being able to fly. No more traffic!

TL: What one thing has changed the most since you started working at your agency?
SF: Besides the color of my hair, it’s easily technology. In 1979 we were manually rating, waiting for commercial quotes for weeks, things lost in the mailroom, waiting for signatures. Now everything is input, faxed, scanned or emailed.