Membership in the Association is highly selective. Those Insurance Wholesalers 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:
- Wholesale Insurance Members: Any insurance wholesaler (defined as an entity having been delegated underwriting, rating or binding authority by, from or on behalf of a risk bearing entity and includes, but is not limited to: a managing general agency, managing general underwriter, program administrator, program manager, producer, aggregator or others transacting business on a wholesale basis).
- 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, 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
- State Stamping & Surplus Lines Offices
- Honorary Members
In addition, the membership is complemented by over 300 young insurance professionals employed by the Association’s members. The Under Forty Organization (UFO) is open to any AAMGA member employee under 40 years of age. The organization provides leadership, management, business acumen, industry training, networking and other skills for the continued professional development of these young men and women. An annual meeting is also held at which the board of the organization is elected, educational sessions are held and roundtable meetings are facilitated.