-- David Walker was inaugurated as the new chairman of the Independent Insurance Agents & Brokers of America (IIABA
or the Big "I"), with Randy Lanoix as chairman-elect, Spencer Houldin as vice chairman and Jon Jensen as an at-large executive committee member.
They spend hundreds of millions of dollars each year," says Tom Minkler (pictured), chairman-elect of the IIABA
and president of Clark-Mortenson Agency Inc.
The keystone of the IIABA
proposal is a new "NARAB," or National Association of Registered Agents and Brokers, an entity created by the 1999 Gramm-Leach-Bliley law that resulted in some state uniformity in licensing of producers.
Rather than a one-size-fits-all scheme, IIABA
is advocating a pragmatic middle ground approach that proposes federal legislative tools to fix state insurance regulation by creating a more uniform and streamlined regulatory system.
He says important issues remain and the focus of IIABA
is on implementation of the program and assisting in that effort to protect producers.
The idea of a merger of the PIA and IIABA
state affiliates is not a new idea.
In particular, the IIABA
was critical of one of the multi-state compacts, the Nonadmitted Insurance Multi-State Agreement (NIMA), because its allocation methodology "is of considerable concern to the private sector, and it is one that fails to satisfy the principles that IIABA
and others expect from such a system.
One of the oldest and biggest is the Independent Insurance Agents & Brokers of America's arrangement with Westport, which writes about 60% of IIABA
's 300,000 members, according to David Hulcher, director of agency E&O risk management for the association.
Fletcher Willey, CPCU, AAI, and chairman of IIABA
'S Government Affairs Committee Flood Insurance Task Force.
The Independent Insurance Agents & Brokers of America (IIABA
) released its "2013 Market Share Study," which analyzes 2011 year-end industry market-share and company-expense data from A.M.
-- The Independent Insurance Agents & Brokers of America (IIABA
or the Big "I") praised Congress for acting to increase the borrowing authority of the National Flood Insurance Program (NFIP) by $9.7 billion to ensure that the current funds are not exhausted any time soon.
Symington Jr., IIABA
's senior vice president for government affairs and federal relations.