AAMGA Incoming President Euclid Black announced the new slate of Board Liaisons, Committee Co-chairs and members for the coming year. “The work of committee members for the AMAGA reminds me of the people who used to work tirelessly shoveling the coal into the steam engine of a train to keep it moving forward at greater and greater speed,” Mr. Black said. “We selected an energetic group of volunteers this year who are proven leaders in their own right. They will be the ones to chart the Association’s success in the coming year,” he added. Committee members selected for the coming year will be receiving e-mailed invitations shortly for the start of their year of committee service.

By Robert H. Myers, Jr. and Cindy Chang
Morris, Manning & Martin
Reprinted by Permission exclusively for AAMGA Members

After then-New York Attorney General Elliot Spitzer initiated industry-wide investigations into allegedly anti-competitive conduct in 2004, some regulators and industry commentators advocated the reform or abolition of the accepted practice of insurance producers receiving contingent commissions. New York’s Insurance Department announced on November 2, 2007, that it is drafting a regulation that will require all retail brokers who deal directly with the public to disclose the value of all compensation agreements with insurers.

The highly respected Manhattan Institute has today released its new report on the asbestos “industry” in the United States. The report reviews the manner in which asbestos lawsuits are initiated and sustained in the United States. It also provides an interesting view on the motivations with which asbestos lawsuits are being filed and on the business interests of claims of asbestos claims.
The entire report can be downloaded by clicking here

During the past year, a special committee comprised of AAMGA Past President Francis Johnson, former Board Member Ed Levy and led by AAMGA Secretary/Treasurer Wesley C. Duesenberg, Jr., worked hard to solidify the AAMGA’s financial commitment of a $1 million endowment to Georgia State University.

The important initiative underlies “the absolute essential need for us to establish an educational Chair at one of the most esteemed insurance centers of higher education in the country to keep our members better educated and advised,” Mr. Duesenberg stated. The Chair will dedicate its focus to research of the wholesale insurance market, risk management and related insurance issues. It will also issue White Papers on the research findings to ensure AAMGA members are kept up-to-date, and that the rest of the insurance industry is also educated by virtue of the AAMGA – Georgia State University partnership.

The views of Company CEO’s on the University East Panel were echoed by members of the panel of principals of general agents, at the session. The panel, consisting of Mary Marines of Pennock Insurance Company, Leonard LoVullo of LoVullo Associates, Frank Mastowski of Jimcor Agencies, and Adam Devine of Excess Insurance Company, offered the view that building and maintaining business relationships -- partnerships with companies, and service and value-added relationships with retailers -- were the keys to sustaining business and remaining profitable under current market conditions.

The panel members also spoke to the unique ways in which each of their organizations sought to cultivate those relationships, from offering greater efficiencies through technology to a “kinder, gentler” but “performance driven” corporate culture.

Business relationships, differentiation from competitors, and passion and pride for both the business and the industry, are the keys to success in a soft market for specialty insurance, according to two different panels of executives – one made up of company executives and the other of principals of general agents – at the AAMGA University East, held Feb. 29 through March 2, at the Renaissance Hotel in Philadelphia.

The “Prime Game,” and course tracks in commercial automobile and garage risks; general, products, professional and personal lines liability; construction defect; commercial property; additional insureds and certificates of insurance all will be offered by industry leading instructors at this year’s University Weekend (West), August 22-24, 2008 at the Scottsdale Plaza Resort in Scottsdale, AZ.

“University Weekend West has always been an educational event that has earned a formal place on everyone’s schedules each year due not only to the quality of education offerings, but the tremendous networking and enhancement of business relationships that take place in a great venue,” AAMGA University Education Director Jeff Henry said. Last year, 329 participants registered for continuing education and non-CE/Agency Management classes.

In an effort to create a more useful internship program for members, as well as identify and fill gaps left by traditional internship programs available to college students in risk management programs at colleges and universities, AAMGA has created a new committee to analyze internship opportunities currently available and to make recommendations for a new AAMGA internship program.

Some ideas that have been suggested and that the committee will analyze include flexible scheduling involving one, three, six and 12 week internships with agencies or companies, and full or part-time opportunities designed to meet the needs of both the student and the sponsoring organization. Tom Stamm, will chair the committee, which will include AAMGA members Tom Cannon, Chris Behymer, Joe Hutelmyer and Jeff Henry, director of education and professional development.

AAMGA recently launched the new AAMGA Web site with a number of improvements to its functioning, efficiency and information – including a master calendar and on-line access to registration materials for educational courses and events. In the next few months, the University plans to unveil yet another addition to the association’s on-line services – the Learning Management System.

“The AAMGA committees are the incubators of not only our future leaders, but also where much of the association work gets done every day,” says AAMGA President –elect Euclid Black.

Each year, AAMGA leadership begins the process of selecting new members for various committees by soliciting expressions of interest from members willing to take an active role in the association’s work. The President then approves prospective committee members.

Black, president of the Black/White Agency in Henderson, Nevada, is requesting AAMGA members who are interested in serving on any one of the association's committees to submit their information, so that he can make the appropriate appointments for the 2008-2009.

AAMGA committees include: automation, governmental affairs, marketing and communications, meetings, membership and the Under Forty Organization.