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

The Independent Insurance Agents and Brokers of America (IIABA) is a national organization of independent insurance brokers and agents. Founded in 1896, the IIABA is headquartered in Alexandria, Virginia, and represents approximately 25,000 independent brokerage firms. The consumer-facing side of IIABA is knꦉown as🌊 Trusted Choice.

How IIABA Works

The IIABA is a nonprofit association serving and representing more than 250,000 independent insurance brokers and agents, primarily in the U.S. The organization comprises a national association, 51 independent state associations, and local chapters. Independent agencies joining become members of state, national, and the Trusted Choice brand, the consumer-facing aspect of IIABA. 

An executive committee and a national board govern the IIABA. Seven elected members serve on the executive commi♔ttee, along with one agent chair. On the national board, each state association sends one volunteer agent director.

IIABA's insurance agents offer a variety of insurance choices, with multiple quotes from multiple companies. In contrast, independent insurance brokers may either focus on a niche market, such as family farms, or sell more wide-ranging and varied products, such as automotive insurance, 澳洲幸运5开奖号码历史查询:health insurance, and 澳洲幸运5开奖号码历史查询:general liability insurance for small businesses. Brokers may 澳洲幸运5开奖号码历史查询:act as intermediaries and may advise clients on choosing products, mitigating risks, and lowering insurance costs.

Other IIABA member benefits include business referrals, IIABA-affiliated insurance products, and an internal job portal for new candidates.

The IIABA helps steer the insurance brokerage industry's ongoing development through internal industry events and political initiatives. The IIABA holds conferences, provides expert spokespersons to media sources reporting on insurance industry news, and operates consumer-related education campaigns on insurance products.

At the political level, the IIABA carries out political lobbying on behalf of its members. The IIABA is associated with InsurPac, a political action committee supporting campaigns in the House and Senate that benefit insurance agents and brokers.

Requirements for IIABA Membership

Generally, an independent insura🌠nce agency will apply to a state chapter for IIABA membership. Re🍨quirements vary by state, but could typically include:

• Operating as an independent contractor on a commission basis.
• Selling health, life, or property and casualty insurance.
• Able to legally represent more than one insurance company.
• State-licensed agents working in the office.
• Owning insurance agency accounts and renewals.
• Agreeing with in-state IIABA bylaws.

Membership dues for an agency depend on an agency's total staff size and the number of locations.

History of the IIABA

During its long h♏istory, which now spans over 125 years, the IIABA has seen several name changes:

• 1896: National Local Association of Fire Insurance Agents
• 1913: National Association of Insurance Agents
• 1975: Independent Insurance Agents of America
• 2002: Independent Insurance Agents and Brokers of America

These name changes reflect the changes that have taken place in the 澳洲幸运5开奖号码历史查询:insurance industry over the decades as the industry has expanded to include new insurance lines beyond fire. Today, the IIABA is often called the "Big I.”

The Bottom Line

Independent agents and brokers may be a good option for the savvy insurance shopper who wants more coverage or a less expensive policy. Organizations like Independent Insurance Agents & Brokers of America, Inc. can provide resources and connections to professionals who can offer you personal, business, and other insurance options.