In The Advantages of Strategic Advisory Boards For Agency Owners insurance agencies expert witness Andres Barile, MBA, CPCU, writes:
• Negotiating existing insurance carrier agency agreements – Your retail insurance agency has just received the bad news that your largest carrier is leaving the state because of reinsurance costs and insurance product pricing. As the owner of the agency, you turn to your strategic advisory board to come up with a solution to delay the carrier’s withdrawal from the state. In fact, the strategic director would be aware of the carrier withdrawal before it makes the decision to withdraw. Experienced strategic directors know all the signs because they have experienced this before in their younger years. Delaying the withdrawal means commission dollars saved, and value added;
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