NU Online News Service, May 9, 2:31 p.m. EST

SAN ANTONIO, Texas—Perpetuation remains a significant concern for the property and casualty insurance industry, but the leadership of a leading excess and surplus lines association believes it has developed a message that is attracting new talent.

At the 86^th annual meeting of the American Association of Managing General Agents this week, the association's President-elect R.C. Chaffin told PC360 that perpetuation, education and technology will be the major areas of focus during his term as president.

“We have to look out for tomorrow,” says Chaffin.

But he pointed to the success MGAs have had developing talent, nothing that other insurance-industry businesses raid the MGAs' ranks “because our education is so good.”

Chaffin says he looks at perpetuation in broad terms, filling the many professional positions not only at wholesale firms, but also at companies, retail agencies and brokerage firms.

Chaffin says the AAMGA is helping to fill the void left by retiring baby-boomers by providing education programs and partnering with Georgia State University's Department of Risk and Insurance Management.

The success the association is having at recruiting and promoting a new generation of MGAs has a lot to do with the combination of its internal University system and the AAMGA Under Forty Organization (UFO), which educates and shepherds younger agents to be tomorrow's leaders.

Chaffin notes that more attention needs to be paid to educating support ranks within the industry rather than just future leaders.

Chaffin notes that insurance companies are no longer providing the training they once did for these support ranks.

“One of the most important things we need to do is to get the word out,” says Chaffin. “We need to tell these young people about what we do and how great a career it can be for them.”

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