THREE, the 3-page small business policy marketed by Warren Buffett’s Berkshire Hathaway, presents statements such as: “no need for brokers or lawyers to translate your policy” and “by simplifying the process we were able to take out the middleman.” In case you missed it, Chris Boggs of the Big “I” published an excellent analysis of the THREE policy that provides great ammunition to help you answer your clients’ questions and keep them from falling prey to a tempting sales pitch.
Bogg’s looked closely at the THREE policy and concluded that “Buffett's team has failed to produce a product that provides the ‘confidence’ small business owners need. Further, the E&O nightmare agents could face from offering such a policy is unimaginable. Simpler does not mean better for any party involved in this policy.”
READ FULL ARTICLE: Warren Buffett Champions an Inferior Product