NU Online News Service, May 26, 3:00 p.m. EDT
PALM DESERT, Calif.–The current management team's contract with the American Association of Managing General Agents has been renewed, keeping its present executive director and director of operations in place indefinitely.
The announcement was made by the association's president, Curtis Anderson, during his state of the association address last week here at the 84th annual AAMGA meeting.
The renewal contract means that Accolade Management–specifically Bernd G. Heinze, executive director, and Martha Heinze, director of operations–will remain as the executive leaders of the King of Prussia, Pa.-based association for an indefinite period of time.
Mr. Anderson said that a year ago the association determined that with the expiration of the current contract of Accolade Management at the end of June, it would seek requests for proposals from other management companies. With a search committee in place, he said a number of candidates were interviewed for the job.
"We did discover that there are a number of very good association management companies in the marketplace, but few of them have as good an understanding of our industry as our current association management company," said Mr. Anderson.
The contracts–which will cover both the management of AAMGA and its Education Foundation–will become effective July 1, Mr. Anderson said.
"I do believe our association is in very good hands with our executive director Bernie Heinze as our partner," he added.
Mr. Heinze said he advised that before the contract for Accolade Management could be renewed, it was incumbent upon the association to perform its due diligence. The contract, he said, is indefinite, but allows either party the option of dissolving the agreement with a period of notice.
Mr. Anderson noted that among the accomplishments the association has made over the past year, there is better cooperation and collaboration between the AAMGA and other wholesale and national retail associations when it comes to matters of concern to all.
Discussing the financial status of the association for 2009, Wesley Duesenberg Jr.–past-president and former treasurer of the AAMGA, and a member of Southern Insurance Underwriters Inc.–said while the association did see a decrease in revenue due to the impact of the recession, AAMGA "is in a strong, stable position."
In the report assembled by current Treasurer J. Robert Owens of the RPS Lexington in Lexington, Ky., the association's equity rose from $1.4 million to $1.5 million on a year-over-year basis. For the year ending June 30, 2009, the surplus of revenues over expenses stood at $101,684.
The AAMGA Education Foundation's equity rose during that same period on a year-to-year basis from $3.02 million to $3.35 million.
Mr. Duesenberg said the association has established an investment committee to monitor investment results.
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