The voting has begun.
Members of the National Association of Professional Surplus Lines Offices (NAPSLO) and the American Association of Managing General Agents (AAMGA) are now officially making their voices heard over the creation of a unified, national group of E&S professionals that, if approved, would create a new, world-class member services organization: the Wholesale & Specialty Insurance Association (WSIA).
On Monday, designated voting contacts for all eligible NAPSLO voting member firms received an email from Brent Wilson of CPA firm Mayer Hoffman McCann regarding the proposed merger. That individualized email contains a proxy (ballot) for the firm to cast its vote. It was sent only to designated voting contacts.
The votes are to be returned by July 24 at 4 p.m. Central time.
NAPSLO says its members are encouraged to review all merger-related materials, including the AAMGA/NAPSLO Merger Committee's proposal, board and member resolutions, notice, plan of merger, amended and restated articles of incorporation, bylaws, and other important details at www.wsia.org.
"I encourage all voting contacts to vote in support of the merger by submitting proxies as soon as possible," Brady Kelley, NAPSLO's executive director, wrote in a letter to members.
The NAPSLO board of directors will inform members of the voting results on or soon after the July 24 voting deadline. Should members of both organizations vote in favor of it, on or about Aug. 1 the merger could be completed.
At a Town Hall meeting hosted during NAPSLO's Mid-Year Leadership Forum at the Marriott Resort in Harbor Beach in March, leaders representing AAMGA and NAPSLO spent 90 minutes laying out their strategy for the coming months — including details on which annual events would still take place (and when) should the merger come to pass, as well as a long list of additional details sorted out after months of due diligence by the merger committee.
Among the benefits that have been outlined to members: a single, rebranded organization with renewed energy and purpose; a simplified menu of programs and services; a larger, unified voice in its legislative and regulatory advocacy; cost savings gained by combining the management of the two separate organizations; synergy in committee and volunteer work; and refinement of existing networking events.
The latter point is one that will require further attention by the committee with regard to location planning, but NAPSLO's annual convention this year will still take place from Sept. 10-13 in San Diego (and will be rebranded as the first true WSIA event, should the merger be approved). Going forward, however, if the merger is approved, some changes are in store from an events perspective.
NAPSLO's annual fall convention that currently vacillates between Atlanta and San Diego (which would now be known as the "Annual Marketplace," under WSIA branding) will still be held in venues booked through 2023. However, the annual business meeting, including the election of directors and officers, would move to a combined event held earlier in the year that would be known as the WSIA Spring Summit — a combination of AAMGA's Annual Meeting and the NAPSLO Mid-Year Leadership Forum. That event would be held in late February/early March.
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