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During my years of doing this program, I have met hundreds of business leaders all over the state of Utah. I always marvel at their creativity, ambition and expertise. I was really blown way recently when I met Phil Timothy of Vernal, Utah. He typifies the Utah entrepreneurial spirit.
As we sat and enjoyed lunch, I started asking question about his business, Service Insurance. I was a little startled when I discovered that though he is primarily noted for his great success in the insurance business, it only represents a fraction of his business holdings. He is REALLY entrepreneurial!
Phil is a great leader in the insurance business. He is one of biggest and most successful in the state but he is also as alfalfa farmer, cattle farmer, fabrication manufacturer and condo developer. He has his hands in a lot of pies and does all of them very well.
Service Insurance was started over 50 years ago. The company has three offices. There are offices in Vernal, Roosevelt and St. George. He told me that Ron Salmonson, Mark Foley, Bill Pope and Jamie Sweat are integral parts of the business. The company provides financial planning besides offering coverage on commercial, home, auto and life insurance.
Service Insurance is the exclusive underwriter for Travelers Insurance Company for the oil and gas industry in the Rocky Mountain area.
Phil told me of his 230 acres where he raises Black Angus cattle and the condo project that he has developed in Midway. He smiled proudly when he told me of the third generation, which is his two sons -- Craig and Brian -- who are now in the insurance business in the Roosevelt office. He mentioned that he has just begun a process to get into the manufacturing business and he expressed his optimism for the economy of the area.
Phil Timothy exudes confidence. He feels that the oil fields will be coming back soon and could bring with it once again the boom times for the Uintah Basin.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
