Insurance market issues

By Mike Switzer

Published July 15, 2025 at 6:30 AM EDT

Stephen Maggard, certified financial planner with Abacus Planning Group in Columbia, SC

Many people may not realize that insurance premiums are regulated. If insurance companies want to raise their rates, they have to apply to do so with each state. Lately, those requests have been for significant increases but our next guest says it’s not just about the premiums. Mike Switzer interviews Stephen Maggard, a certified financial planner with Abacus Planning Group in Columbia, SC.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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