Independent Insurance Agents and Brokers of America (IIABA)

What Is the Independent Insurance Agents and Brokers of America (IIABA)?

The Independent Insurance Agents and Brokers of America (IIABA) is a national organization of independent insurance brokers. Established in 1896, the IIABA is settled in Alexandria, Virginia, and addresses roughly 25,000 independent brokerage firms.

Mission of the IIABA

The IIABA is an association that serves and addresses the interest of the independent insurance brokerage industry. Not at all like direct writers, independent insurance brokers have the liberty of shopping around among several insurers to give their customers the most competitive accessible terms and rates. Generally, independent insurance brokers will sell a scope of products, for example, [automotive insurance](/collision protection), health insurance, [general liability](/business general-liability-cgl) insurance, and others. They may likewise give clients guidance on how best to relieve their risks and lower their insurance costs.

Different benefits for individuals from the IIABA incorporate business references, IIABA-partnered insurance products, and an internal job portal for new applicants.

The IIABA helps steer the continuous development of the insurance brokerage industry through both internal industry occasions and political drives. The IIABA holds gatherings, gives expert spokespersons to media sources reporting on insurance industry news, and operates buyer related education crusades on insurance products.

At the political level, the IIABA completes political campaigning in the interest of its individuals. The IIABA is associated with InsurPac, a political action committee supporting efforts in the House and Senate that benefit insurance agents and brokers.

History of the IIABA

During its long history, which currently ranges north of 120 years, the IIABA has seen several name changes. The association was established under the title National Local Association of Fire Insurance Agents, then, at that point, turned into the National Association of Insurance Agents in 1913, the Independent Insurance Agents of America in 1975, lastly the Independent Insurance Agents and Brokers of America in 2002. These name changes mirror the changes that have occurred in the insurance industry throughout the long term, as the industry has expanded to incorporate new insurance lines. Today, the IIABA is frequently alluded to as the Big "I".

In 2013, the IIABA upheld the National Association of Registered Agents and Brokers Reform Act. Albeit this act at last failed to become law, it would have assisted with decreasing the cost borne by insurance brokers for consenting to state insurance regulations.

Features

• It upholds American insurance brokers through individuals just insurance products, educational resources, and different programs.
• The IIABA additionally advances its individuals' interests through political campaigning drives.
• The Independent Insurance Agents and Brokers of America (IIABA) is a national enrollment organization zeroed in on the insurance brokerage industry.