The American Association of Managing General Agents says it plans to open membership to the entire wholesale insurance community and is changing the association's name for the fourth time in its history.

The association's new name will be the American Association of Wholesale Insurance Professionals.

Membership—now open to managing general agents, national and international insurance companies, business services, and stamping offices—would add surplus lines brokers, managing general underwriters, program administrators, program managers, aggregators and other insurance entities operating on a wholesale basis.

The changes follow a two year-strategic review by the board highlighting opportunities for the association to better adapt to a changing insurance market.

AAMGA Executive Director Bernard G. Heinze (pictured) says the move “expands the tent” and allows representation of the entire wholesale marketplace by a single association. A number of specialty players define the wholesale market today, says Heinze, and having those businesses represented by one association will raise the profile of the entire marketplace as the industry deals with issues affecting surplus lines producers and insurers.

“We are not looking to be bigger, we want to make the association better,” says Heinze.

AAMGA Board President R.C. Chaffin says the change will make the association stronger, serving as “a single, reliable source for the wholesale distribution market,” and yielding long term benefits to existing and future members.

The AAMGA board revealed plans for expansion to the membership during a May 10 conference call, says Heinze. He says the response was positive overall and there will be further discussion of the move during the association's meeting next week in New Orleans.

The membership will vote on changes to the bylaws shortly after the meeting.

New members will need to meet standards that include approval by the board, required minimums for written annual premium, time spent transacting and writing business on a wholesale basis, three recommendations from existing members and compliance with the Code of Ethics.

Founded as the Association of Fire Insurance General Agents in 1926, the association expanded and changed its name in 1930 to become the American Association of Insurance General Agents before becoming AAMGA in 1948. The association currently has 485 members.

Special Reports /

AAMGA No More: Association Expands Membership, Changes Name

Related Stories

Recommended For You