Transcript presented by Euclid Black and Curtis Anderson
History
AAMGA was established in 1926 and has continuously served the interests of companies and agents for more than three quarters of a century. Membership in the Association is highly selective. Those managing general agents admitted to the ranks of the nationals association must first have demonstrated high standards of excellence and experience, integrity and company representation. Facilities include full underwriting, production and claims staff who supervise and perform such services for companies.
History
In
1983
, the AAMGA opened its membership ranks to domestic and foreign insurance companies, underwriters and other organizations that provided significant insurance related services to the MGA system. To be eligible, these companies must have been in business for more than one year and be nominated by three or more active members. In order to enhance the AAMGA's leadership role this vital segment of the insurance industry, the Association' Board of Directors has developed a group of significant member services.
Membership
Membership in the Association is highly selective. Those managing general agents admitted to the ranks of the Association must first have demonstrated high standards of excellence and experience, integrity and company representation. Membership criteria, and the AAMGA’s vetting process of all prospective members have been identified as two of the main reasons why so many domestic and international markets view the AAMGA as representing the “gold standard” in the wholesale insurance industry.
Membership in the AAMGA is broken down into five main categories: Active Members:
Managing General Agents
Associate Members:
Domestic and international insurance companies, Lloyd’s of London Syndicates and Underwriters, and the Corporation of Lloyd’s, London Market Insurance Companies, London Market Brokers, wholesale insurance brokers, reinsurance and retrocessional insurance companies, captive insurers, and other risk bearing entities
Business Service Members:
Law firms, insurance premium financing companies, third-party administrators, document reproduction companies, information technology and automation entities, industry trade publications, and other commercial enterprises who serve the wholesale insurance market and managing general agents
Honorary Members State Stamping & Surplus Lines Offices
AAMGA Board
The management, affairs, business, and concerns of the Association are conducted and managed by a Board of Directors of nine (9) active members of the Association, consisting of the President, President-Elect, two (2) Senior Vice Presidents, two (2) Regional Vice Presidents, two (2) Regional Directors, and Immediate Past President. The Board meets monthly by telephone conference, and in person at regularly scheduled meetings in February, May, June, and November.
AAMGA Board
AAMGA Board
AAMGA Board
AAMGA Board
AAMGA Board
AAMGA Board
Council of Presidents (Past Presidents)
David F. Anderson Joseph A. Howse Ray R. Johnston Marie E. Welch Louis T. Mastos Avrohm I. Wisenberg Robert P. Welch Wesley C. Duesenberg Jr.
Peter B. Scobie Louis A. Williams Gregory A. Allgeier Thomas B. Rogan Fred Steves Ed Calabrese 1980-1981 1981-1982 1982-1983 1983-1984 1984-1985 1985-1986 1986-1987 1987-1888 1988-1989 1989-1990 1990-1991 1991-1992 1992-1993 1993-1994 Pasadena, CA Houston, TX Montgomery, AL Oklahoma City, OK Reno, NV Houston, TX Corte Madera, CA Atlanta, GA Eau Claire, WI Marshall, TX Louisville, KY Miami, FL Houston, TX Ft. Lauderdale, FL
Council of Presidents (Past Presidents)
Victor D. Giordano Preston H. Gough Jr.
Charles T. Deering James Ryan Paul Davis James A. Roe Leonard T. LoVullo Baron D. Garcia Robert S. Giles Ronnie C. Moore Joseph P. Hutelmyer Francis Johnson Scott Anderson Thomas K. Albrecht 1994-1995 1995-1996 1996-1997 1997-1998 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 Wayne, PA Jackson, MS Durham, NC Louisville, KY Rockwall, TX Indianapolis, IN Buffalo, NY Oklahoma City, OK Eau Claire, WI Bowling Green, KY Burlington, NC Charleston, SC Fargo, ND Montgomery, AL
Bernd G. Heinze, Esq.
Executive Director 610-225-2363 [email protected]
Paul A. Spector, Esq.
Deputy Executive Director 610-225-2639 [email protected]
Martha A. Heinze Director of Meetings 610-225-2362 [email protected]
Caitlin Skelton Assistant Director of Meetings 610-225-2360 [email protected]
Jacqui Spuhler Executive Assistant 610-225-1999 [email protected]
AAMGA Staff
Marty Bair CFO 610-225-2669 [email protected]
Lisa Herko Receptionist 610-225-1999 [email protected]
Sarah Selverian Controller 610-225-2636 [email protected]
Jeff Henry Director of Education 610-225-0352 [email protected]
Mark Stackhouse Webmaster & Creative Director 610-225-1999 [email protected]
Christine Grose University Administrator 610-225-2365 [email protected]
Ryan Friel University Administrator 610-225-2377 [email protected]
Headquarters
150 South Warner Road, Suite 156 King of Prussia, PA 19406 Voice: 610-225-1999 Fax: 610-225-1996 E-mail: [email protected]
Our Committees
One of the greatest assets of the AAMGA is its committee structure. The committees provide the Association and its members with the ability to focus on strategic objectives in the areas of responsibility assigned to member experts which comprise each group. The Committees are also the “incubators” of the AAMGA’s – and our industry’s - future leaders. A Board Member is assigned by the President each year as liaison to each of the respective committees, and works hand-in-hand with the committee chairs and members. The Standing Committees and Board Liaisons are:
Committee Liaison
• Automation & Technology: Bob Schacher • Ethics: • Governmental Affairs: • Marketing: Tom Albrecht Mark Rothert Tony Glotzbach
Committee
• Meetings:
Liaison
R.C. Chaffin • Membership: • Under Forty Organization: Wayne Forest, Sr.
Corinne Jones • University Curriculum Committee: Rob Giles
By-Laws on Elections
Article VI - Election Section 1 -
a.
Board Positions and Qualifications b.
c.
i.
ii.
iii.
iv.
Each year a President-Elect shall be elected from among the two sitting Senior Vice Presidents. A nominee for the office of President-Elect shall have served at least two of the previous six years as a Board of Directors member. The President-Elect, if willing, able, and available to serve, shall automatically be elevated to the office of President the year following his or her election as President-Elect. Two new Directors shall be elected annually from the active membership representing Eastern and Western regions of the USA. The other positions on the Board will be filled by the existing members advancing into those positions as follows: the sitting Directors from the Eastern and Western Regions will move into the positions of Eastern and Western Vice President, respectively; similarly, the Eastern and Western Vice Presidents will advance into the positions of Senior Vice President for their respective region. In the event of a vacancy of any position on the Board of Directors, or the withdrawal of a candidate standing for election to a position on the Board, an emergency meeting of the Board of Directors shall be held to determine the best procedure to implement in regard to succession or otherwise filling the vacant position. Whenever mail balloting is used to elect officers or directors, a member may vote for a candidate other than those nominated by the Nominating Committee by writing in the candidate’s name on the ballot. If there are three or more candidates for a particular office and no one of these candidates receives a majority of the votes cast on the first ballot, those candidates receiving the least number of votes shall be dropped from the ballot. A run-off election shall be held between the two candidates who received the highest number of votes cast.
By-Laws on Elections
Article VI – Election Continued Section 2 -
a.
The Board of Directors shall establish criteria for qualification for those nominated for the office of Regional Director and shall delineate the states comprising East and West Regions. Only candidates from the respective regions meeting the established qualifications shall be nominated by the Nominating Committee, and/or be counted as a valid on any write in ballot. Minimum criteria for qualification shall include at lest two years active membership in the Association and the demonstrated ability and desire to serve the Association as evidenced by a past active committee participation or leadership at regional meetings or other official Association meetings.
Section 3 –
A member of the Board of Directors, who has served for two consecutive years or more and is not elected as President-Elect, shall not be eligible for reelection as Director until at least one year has elapsed.
Code of Ethics
The principals, officers and employees of AAMGA members have certain obligations to one another, to the insurance industry, and to the communities in which business is conducted.
Our goals and obligations fall into six broad categories. 1. Financial 2. Intra-organizational 3. Relationships with our sub-producers 4. Relationships with insurance companies 5. Legal responsibilities 6. Community obligations
Code of Ethics
1. Financial:
As AAMGA members, we must meet all financial obligations (i.e. debts owed, premiums due companies, returns due to sub-producers and insureds, and other matters) on a timely basis.
2. Intra-Organizational:
As AAMGA members, we must compete fairly and honorably in the marketplace, making no false statements or misrepresentations about other AAMGA members or competitors.
3. Relationships with Our Sub-Producers:
As AAMGA members, we must serve our sub-producers to the utmost of our ability, and in so doing must: • Research and remain current on the financial stability of companies with which we place business; • • Encourage continuing education and training for ourselves and our staffs; and Make no misrepresentation of what coverage is being provided.
Code of Ethics
4. Relationships with Insurance Companies We Represent
As AAMGA members, we will faithfully execute the underwriting guidelines of the companies we represent. As AAMGA members, we must act in the utmost good faith and gather all data necessary to make a proper underwriting decision before putting an insurance company at risk. As AAMGA members, we are obligated to remain current on the laws and regulations affecting insurance companies, in those states in which we have authority, advising companies to the best of our ability on statutes and practices which affect them.
5. Legal Responsibilities
As AAMGA members, we are required to observe all insurance and other applicable state and federal laws and regulations.
6. Community Obligations
As AAMGA members, we will take an active part in the recognized civic, charitable and philanthropic movements which contribute to the public good of our communities. It is a privilege, not a right, to belong to the AAMGA. Our AAMGA membership is a "badge of honor." We pledge to conduct ourselves in a manner befitting the privilege of membership in the American Association of Managing General Agents.
Our Strategic Plan
Our Vision Our Mission Our Core Values Our Goals
Vision 2018 Project
In order to examine the current state of our industry and how it will change in the future, the AAMGA chartered a committee of industry thought leaders who will meet regularly throughout the year to discuss trends and opportunities. Some of the initiatives being examined and discussed are:
• How will insurance products and services be distributed in the next 10 years; • What insurance products and services will consumers and producers be interested in; • How will the dynamics of the market change; • How can wholesale insurance agents become more competitive and obtain a greater edge; • How will current regulatory and compliance issues reshape the way in which business is done; • What can the AAMGA do to help educate, retool and retrench the inherent value of managing general agents and other Association members to fully maximize the potential and value proposition; • How will the continued globalization of risk and insurance products impact US MGA’s and coverholders of binding authorities; • What will the alternative market look like in the next 10 years; • What can the Association and members do to interest high school and college students on the benefits of a career in the insurance profession.
Vision 2018 Project
This special group’s opinions and conclusions will be shared with all AAMGA members in the Association’s publications and meetings. These findings will also enable Association members to look at their own marketing, services and products and adapt to market and consumer change as warranted.
• • • • • • •
At present, the 2018 Group is comprised of the following industry experts: Tom Albrecht: Southern Insurance Underwriters Scott Anderson: Concorde General Agency Robert Fulwider: Independent Insurance Agents & Brokers of America John Hayden: American Modern Insurance Group Chris Jameson: Max Specialty Insurance Company John Latham: Markel Corporation Gary Clark: Miller (UK) For more information on the Vision 2018 Project, please contact Bernie Heinze.