The American Association of Managing General Agents says itplans to open membership to the entire wholesaleinsurance community and is changing the association's name forthe fourth time in its history.

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

Membership—now open to managing generalagents, national and international insurance companies,business services, and stamping offices—would add surplus linesbrokers, managing general underwriters, program administrators,program managers, aggregators and other insurance entitiesoperating on a wholesale basis.

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

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

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

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

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

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

New members will need to meet standards that include approval bythe board, required minimums for written annual premium, time spenttransacting and writing business on a wholesale basis, threerecommendations from existing members and compliance with the Codeof Ethics.

Founded as the Association of Fire Insurance General Agents in1926, the association expanded and changed its name in 1930 tobecome the American Association of Insurance General Agents beforebecoming AAMGA in 1948. The association currently has 485 members.