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. Founded in 1896, the IIABA is headquartered in Alexandria, Virginia, and represents approximately 25,000 independent brokerage firms.
- The Independent Insurance Agents and Brokers of America (IIABA) is a national membership organization focused on the insurance brokerage industry.
- It supports American insurance brokers through members-only insurance products, educational resources, and other programs.
- The IIABA also advances its members’ interests through political lobbying initiatives.
Mission of the IIABA
The IIABA is an association that serves and represents the interest of the independent insurance brokerage industry. Unlike direct writers, independent insurance brokers have the liberty of shopping around among several insurers in order to provide their customers with the most competitive available terms and rates. Generally, independent insurance brokers will sell a range of products such as automotive insurance, health insurance, general liability insurance, and others. They may also provide clients with advice on how best to mitigate their risks and lower their insurance costs.
Other benefits for members of the IIABA include business referrals, IIABA-affiliated insurance products, and an internal job portal for new candidates.
The IIABA helps steer the ongoing development of the insurance brokerage industry through both 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.
History of the IIABA
During its long history, which now spans over 120 years, the IIABA has seen several name changes. The association was founded under the title National Local Association of Fire Insurance Agents, then became the National Association of Insurance Agents in 1913, the Independent Insurance Agents of America in 1975, and finally the Independent Insurance Agents and Brokers of America in 2002. These name changes reflect the changes that have taken place in the insurance industry over the decades, as the industry has expanded to include new insurance lines. Today, the IIABA is often referred to as the Big "I”.
In 2013, the IIABA supported the National Association of Registered Agents and Brokers Reform Act. Although this act ultimately failed to become law, it would have helped to reduce the cost borne by insurance brokers for complying with state insurance regulations.