When Kim Fricke founded Professional Concepts Insurance Agency (PCIA) in 1988, she set out with a clear mission: to protect and empower professional service firms through more intelligent risk management. What began as a two-person operation in Michigan has grown into a respected agency serving close to 1,000 professional service firms. From day one, PCIA has combined technical expertise with a personal touch—an approach that remains central to its identity.
As the agency expanded, Kim’s son, Mike Cosgrove, joined in 1992, bringing new ideas, leadership, and a renewed focus on client service. In 2012 Mike turned first to Ursula Scroggs of DKSS (Derderian, Kann, Seyferth & Salucci, P.C.) in Troy, Michigan, whose counsel was instrumental in the ownership transition. More than a decade later, DKSS continues to strategize and consult on all aspects of the agency. Today, Mike serves as President, carrying forward the culture and standards his mother established while guiding PCIA into the future. The addition of his daughter, Kennedy, in 2025 marked the beginning of a third generation in the business.
PCIA’s family business is built on quality and integrity. Mike points out that the agency’s non family team also help carry those values forward each day. With employees working in several states, their local insight and steady commitment allow the agency to deliver consistent service across markets. PCIA supports its team through training and clear career paths and encourages input from all levels of the organization. This shared effort between leadership and staff helps strengthen the agency today and prepares it for the years ahead.
Building on that, PCIA’s culture today reflects its roots: collaborative, values-based, and deeply invested in client success. Team members work hard and support one another, guided by a simple principle: do the right thing, even when no one is watching. With a leadership team that balances innovation with stability, the agency remains committed to helping professional firms navigate evolving risks while contributing to the community it serves.
Mike Cosgrove opened up about the lessons, challenges, and rewards of family business leadership.
What advice would you give to other family-owned businesses regarding succession planning?
Start early and communicate often. Succession planning isn’t a single event; it’s an ongoing process. In our case, the transition began years before I officially stepped into a leadership role. My advice is to be honest about strengths, gaps, and expectations on both sides. If you’re a founder, be willing to step back slowly and let the next generation grow into the role. If you’re the successor, respect what’s been built, but also bring your own perspective. Keep the conversations open, even when they’re hard. As family, try and keep your emotions in check. Many times “sleeping on it” and revisiting it another day is the best approach.
What do you see as the key factors in maintaining a successful family business?
Clear communication, shared values, and mutual respect. The lines between work and personal life blur in a family business, so it’s important to be intentional about boundaries. We’ve always tried to put the business first, making decisions based on what’s right for PCIA. At the end of the day, you have to trust each other and stay focused on the long game.
What challenges did you encounter while working with your mother?
Any time you’re working with family, there’s a learning curve. For us, the biggest challenge was learning how to separate roles. She’s my mom, but she’s also the founder of the company and someone I deeply respect as a professional. We had to navigate when to be parent and child, and when to be business partners. Over time, we found that rhythm, and it’s made our working relationship stronger. Looking back, I wouldn’t trade the experience for anything.
The PCIA journey illustrates the unique power of family run organizations — and the importance of leadership that honors the past while embracing the future.
Ursula Scroggs, CPA, is managing director at DKSS CPAs + Advisors, with offices in Troy and St. Clair Shores, Michigan. Jean Stenger, CPA, is director of operations for DKSS.
