Independent Insurance Agents & Brokers of America: Supporting Independent Insurance Agencies

The Independent Insurance Agents & Brokers of America (IIABA) is a powerful advocate for independent insurance agencies across the United States. Its mission is to promote and protect the interests of its members, who are the backbone of the insurance industry.

The IIABA provides its members with access to a wide range of resources, including training and education programs, marketing tools, and legislative advocacy. This support helps independent agencies stay competitive and thrive in a rapidly changing market.

By joining the IIABA, independent agencies gain a collective voice and a stronger presence in the industry. This can lead to better business outcomes and a more secure future for agency owners and employees.

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The Independent Insurance Agents & Brokers of America (IIABA) has a long history, dating back over 125 years. The organization was founded in 1896 as the National Local Association of Fire Insurance Agents.

Today, the IIABA is a nonprofit association serving and representing more than 250,000 independent insurance brokers and agents. This is a significant number, and it's clear that the IIABA plays a vital role in the insurance industry.

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The IIABA is governed by an executive committee and a national board, with seven elected members serving on the executive committee, along with one agent chair. Each state association sends one volunteer agent director to the national board.

IIABA's insurance agents offer a variety of insurance choices, with multiple quotes from multiple companies. This allows consumers to compare prices and choose the best option for their needs.

Independent insurance brokers, on the other hand, may focus on a niche market, such as family farms, or sell more wide-ranging and varied products, such as automotive insurance, health insurance, and general liability insurance for small businesses. They may also act as intermediaries and advise clients on choosing products, mitigating risks, and lowering insurance costs.

IIABA member benefits include business referrals, IIABA-affiliated insurance products, and an internal job portal for new candidates. These benefits can be a valuable resource for independent insurance brokers and agents.

The IIABA helps steer the insurance brokerage industry's ongoing development through internal industry events and political initiatives. This includes holding conferences, providing expert spokespersons to media sources, and operating consumer-related education campaigns on insurance products.

To become a member of the IIABA, an independent insurance agency typically applies to a state chapter. Requirements for membership include operating as an independent contractor on a commission basis, selling health, life, or property and casualty insurance, and being able to legally represent more than one insurance company.

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Membership dues for an agency depend on the agency's total staff size and the number of locations. This ensures that larger agencies pay more in dues, which helps support the IIABA's efforts.

Here are the requirements for IIABA membership by state:

The IIABA has undergone several name changes over the years, reflecting the changes that have taken place in the insurance industry. The organization has been known as the National Local Association of Fire Insurance Agents, the National Association of Insurance Agents, the Independent Insurance Agents of America, and finally, the Independent Insurance Agents & Brokers of America (IIABA).

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To become a member of the IIABA, an independent insurance agency typically applies to a state chapter. Requirements vary by state, but usually include operating as an independent contractor on a commission basis.

Selling health, life, or property and casualty insurance is also a common requirement. This allows agencies to legally represent more than one insurance company.

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State-licensed agents working in the office and owning insurance agency accounts and renewals are also typically required. Agencies must also agree with in-state IIABA bylaws.

Membership dues depend on an agency's total staff size and the number of locations. This ensures that larger agencies with more staff and locations pay higher dues.

Here are the general requirements for IIABA membership:

The IIABA is a nonprofit association that represents over 250,000 independent insurance brokers and agents in the U.S. It's made up of a national association, 51 independent state associations, and local chapters.

These state associations send one volunteer agent director to the national board, which oversees the IIABA's operations. The national board has a significant role in governing the organization.

The IIABA's insurance agents offer a variety of insurance choices, with multiple quotes from multiple companies. This is a key benefit of working with an independent insurance agent.

Independent insurance brokers, on the other hand, may focus on a specific niche market or sell a wide range of insurance products. They often act as intermediaries, advising clients on choosing products, mitigating risks, and lowering insurance costs.

Here are some benefits of being an IIABA member:

The IIABA plays a crucial role in the insurance brokerage industry's development, holding conferences, providing expert spokespersons to media sources, and operating consumer-related education campaigns on insurance products.

The Big "I" has a new leadership team in place, with Spencer Houldin from Connecticut installed as the new chairman.

Spencer Houldin is the current chairman of the Big "I", and he's joined by Vaughn Graham of Oklahoma as chairman-elect.

The Big "I" also recognizes outstanding individuals with the Jeff Yates Lifetime Achievement Award, which is the highest honor bestowed on a non-agent.

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The Big “I” has a new leadership team in place, with Spencer Houldin of Connecticut installed as the chairman. He's joined by Vaughn Graham of Oklahoma as chairman-elect.

Spencer Houldin is the first chairman from Connecticut in this role.

The Big "I" Agents have a way of recognizing outstanding contributions to the independent agency system, and one notable example is the Jeff Yates Lifetime Achievement Award. Bill Wilson received this honor for his lifetime of work in the system.

This award is the highest honor the association bestows on a non-agent. The Big "I" Agents clearly value dedication and commitment, as evidenced by the recognition they give to individuals like Bill Wilson.

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Chairman John Costello released a video statement related to the Big I's move to relinquish retiring chief executive Bob Rusbuldt of his duties immediately.

The video statement was released by The Independent Insurance Agents and Brokers of America, also known as The Big I, on Wednesday.

Chairman Costello's statement was a direct response to the organization's decision to end Rusbuldt's tenure abruptly.

Big I is another term for the Independent Insurance Agents & Brokers of America, Inc. or (IIABA), an organization that represents, supports, and advocates for independent insurance agents, brokers, and agencies at the national and state levels.

The Big I offers a variety of products and services to independent agents, including webinars and virtual classes, which can be a valuable resource for learning and professional development.

Insurance is a type of protection that helps you manage financial risks and uncertainties. It's like having a safety net to fall back on when unexpected events happen.

Big I Insurance, also known as the Independent Insurance Agents & Brokers of America, Inc., represents independent insurance agents and brokers at the national and state levels. They offer a range of products and services to help these agents succeed.

Having insurance can give you peace of mind and financial security, especially when dealing with unexpected events like accidents or natural disasters. Big I Insurance is a great resource for independent agents who want to provide the best insurance solutions to their clients.

Finding an Insurance Agent can be a daunting task, but it doesn't have to be. One way to start your search is by visiting the Trusted Choice website, which is the consumer-facing aspect of the Independent Insurance Agents & Brokers of America, Inc. trade association.

Trusted Choice offers a website to search for nearby agents and brokers within the Independent Insurance Agents & Brokers of America, Inc. system, making it a great resource to find a qualified agent.

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However, keep in mind that there may be other licensed independent insurance professionals outside this organization, so it's essential to do your research and compare options.

You can also use the Trusted Choice website to find agents and brokers in your area, making it easier to get quotes and compare rates.

The IIABA has a significant presence in lobbying efforts, having spent over $1 million in 2010 on various insurance issues.

The organization has supported the National Association of Registered Agents and Brokers Reform Act of 2013, a bill aimed at reducing regulatory costs for insurance companies operating in multiple states.

The IIABA's lobbying efforts have focused on federal crop insurance, insurance licensing reform, and other insurance-related issues.

The insurance industry is a significant player in lobbying efforts, and the Independent Insurance Agents and Brokers of America (IIABA) is a prime example. They spent over $1 million in 2010 on lobbying efforts.

One of their main goals is to reform insurance licensing requirements, which they believe would make it easier for insurance companies to operate in multiple states.

The IIABA has also supported the National Association of Registered Agents and Brokers Reform Act of 2013, a bill that aims to reduce regulatory costs.

This bill, if passed, would simplify the process for insurance companies to comply with multiple states' requirements.

Here are some key facts about the IIABA's lobbying efforts:

Big "I" Markets has partnered with Coalition to offer cyber and technology errors & omissions insurance markets to its member agents.

This partnership allows member agents to access specialized coverage for cyber risks and technology-related errors and omissions.

Big "I" Markets is an online market access system available exclusively to Big "I" members, providing a convenient platform for agents to explore various insurance options.

The partnership with Coalition enables Big "I" members to tap into Coalition's expertise in insurance-enabled technology, expanding their access to cyber and tech E&O coverage.

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Jennifer McPhillips has joined the Big “I” lobbying team as vice president for federal government affairs. She was promoted to this role after working for the organization since 2006.

McPhillips first joined the Big “I” team in 2006. She came from a background of working for Rep. Leonard Boswell (D-Iowa).

Before joining the Big “I”, McPhillips gained experience in government affairs, which will likely benefit her in her new role.

In mid-November 2014, Texas' largest association of independent retail insurance agents took the unprecedented step of acquiring a managing general agency. This move was aimed at providing its members with greater access to non-admitted commercial insurance markets.

The association's decision was a bold one, marking a significant shift in their approach to serving their members. It's not often that we see industry associations venture into this kind of territory.

The acquisition was announced, but the details of the partnership were not publicly disclosed. This lack of transparency has left some Texas wholesalers wary of the retail agent association's MGA.

This move has set a new precedent for industry associations looking to expand their services and offerings. It remains to be seen how this partnership will shape the future of insurance in Texas.

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The Independent Insurance Agents and Brokers of America (IIABA) takes pride in its Code of Ethics, which outlines the principles that guide its members. This code is a cornerstone of the IIABA's commitment to serving consumers and promoting the insurance industry's integrity.

Independent Insurance Agents believe in the value and importance of the insurance business and its future, recognizing the critical role they play in serving consumers throughout the insurance process.

The IIABA Code of Ethics emphasizes the importance of supporting the Independent Agency System, which has developed insurance as a fundamental component in the economic fabric of our nation. Members pledge to support right principles and oppose bad practices in the insurance business.

The relationship between Independent Insurance Agents and the public, insurance companies, and other agents is paramount, with a focus on the rights of the client. Agents believe that their role is to serve the interests of their clients by responding to their expressed insurance needs.

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Independent Insurance Agents strive to further the public's understanding of insurance, promote safety and loss control in their community, and participate in civic and philanthropic activities. They also work to maintain open lines of communication with insurance companies and respect the authority vested in them.

Agents recognize the importance of maintaining positive relations with other insurance agencies in their community, competing with them on an honorable and fair basis. They also follow all insurance laws relative to the conduct of their business.

Ultimately, the IIABA Code of Ethics serves as a guiding principle for its members, encouraging them to work together for the betterment of the insurance business and to elevate the standards of their occupation. By following this code, agents can build trust with their clients and contribute to the overall integrity of the industry.

Independent Insurance Agents & Brokers of America has made significant strides in recent years. They have a strong presence in the industry with over 300,000 agents and brokers across the country.

In fact, the organization's membership has grown by 10% in the past two years alone. This growth is a testament to the value that independent agents and brokers bring to the table.

The organization's advocacy efforts have been instrumental in shaping the industry's future. They have successfully lobbied for policies that benefit their members and the communities they serve.

Independent agents and brokers are known for their expertise and personalized service. They take the time to understand their clients' unique needs and provide tailored solutions.

Their dedication to customer satisfaction has earned them a reputation as trusted advisors in the industry.