IIAA Might Add Brokers To Its Name
By Steven Brostoff, Washington Editor
NU Online News Service, Jan. 24, 11:21 a.m. EST, Washington--The Independent Insurance Agents of America might soon adopt a new name.
The IIAA board has agreed to present a proposal to the membership to formally change the name of the association to the "Independent Insurance Agents and Brokers of America," said Robert A. Rusbuldt, chief executive officer of the Alexandria, Va.-based IIAA.
Mr. Rusbuldt said that the name change is not official. It will be up to the membership to approve the change at a special meeting in April, he noted.
He said that the IIAA board recommended the change for three reasons.
? First, he said, many state affiliates of IIAA have already made such a change. These states have been advocating for years that the national association does so as well, he noted.
? Second, he said, many IIAA members prefer being called "brokers" rather than "agents."
? Finally, Mr. Rusbuldt said, internationally, the term "broker" is the standard to describe producers. Those considered "agents" in the United States are described as "brokers" overseas, he said.
Mr. Rusbuldt emphasized that a name change would not imply any change in IIAA's mission. It is primarily a recognition that many IIAA members prefer the term "broker."
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