The American Association of Managing General Agents voted toexpand membership to include all wholesale insurance professionalswith underwriting or binding authority.

Prospective members must also meet other standards set by theassociation, such as minimums for years in business and annualwritten premium.

Membership—which had been open to managing general agents,national and international insurance companies, business services,and stamping offices—will now include MGUs, program administrators,aggregators and other wholesale insurance professionals.

The AAMGA announced in May that it would hold a vote among its members onamending the association's bylaws to expand membership. Theproposal was the result of a two year-strategic review by the boardhighlighting opportunities for the association to better adapt to achanging insurance market.

AAMGA Executive Director Bernie Heinze said in May, “We are notlooking to be bigger, we want to make the association better.”

Following the recent vote, which the AAMGA says passed by anoverwhelming majority with more than 63 percent of eligible membersvoting, Heinze said, “These new bylaws were designed to ensurethose market professionals working in the wholesale insurance spacewith binding or underwriting authority have a place to go wherepeer networking, education and advocacy resources are available. Bybroadening our membership, we're strengthening and advancing theimportance of the entire wholesale insurance marketplace.”

In May, the AAMGA said it was also considering changing its nameto the American Association of Wholesale Insurance Professionals.However, Heinze said the board reconsidered after holdingconversations with association members. “Following thosediscussions, the board decided to maintain the respect theassociation's brand and name has achieved over the past 87 yearsand focused the bylaw amendments on membership criteria, enhancedthe services and the many benefits membership in the AAMGA offers,”he explains.