The American Association of Managing General Agents is entering into an exclusive licensing arrangement with the Chartered Insurance Institute in London to train the association's members to do business as brokers at Lloyd's.
AAMGA Executive Director Bernard G. Heinze made the announcement during a press conference at the AAMGA's 80th annual meeting.
Under the agreement, members will have access to courses that would eventually allow them to take the Lloyd's and London Market Insurance Test offered by the Institute, an education association for the insurance and financial industry in the United Kingdom.
Mr. Heinze said that in August AAMGA University will begin offering preparatory courses for the test, which will be given in late August to early September. Passing the test will allow U.S. wholesale brokers to do business as brokers in London.
Mr. Heinze also announced that from Sept. 10-15, a meeting is planned between 10 AAMGA and 10 London syndicate representatives in London to discuss insurance issues of concern to both parties and develop solutions. Mr. Heinze said the meeting will be repeated the following year in the United States.
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