As the owner of an insurance agency, there is no legal requirement that you have a board of directors. However, in these challenging times, principals should consider forming a strategic advisory board.
Unlike a traditional board of directors, a strategic advisory board–or SAB–is comprised of members who have knowledge and expertise in specific areas of the insurance industry.
The goal is to reduce the amount of anxiety equated with confronting unexpected situations, and to provide solid, trustworthy business advice to ensure successful and profitable agency planning and execution.
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