The ability of insurance professionals to sustain future business profitability requires examining operating principles and practices at the core of an enterprise able to capitalize on the opportunities of a changing world. The economic realities and regulatory proposals on the horizon are not mutually exclusive to an agent or broker's abilities to earn a profitable living.

The American Assn. of Managing General Agents (AAMGA) has built a committee system and established alliances to exploit the diverse talents in the wholesale insurance industry specifically, and the marketplace generally. Although the future is bright, it will require behaviors that have been the hallmark of trusted agents and brokers in the past:

o Committing to service that adds value to every transaction

o Fostering relationships with every customer at every opportunity

o Enhancing professional development and mentoring young insurance professionals

o Solving problems innovatively and making use of automation and technology

o Giving back something of ourselves and our profession to our communities.

These behaviors appear as a relatively easy recipe to follow, except that legislators, regulators and even our neighbors cast insurance agents and brokers in the same light as other financial service providers currently under scrutiny. Throughout the last year of revelations and the economic impact of the greed and failure of others, our industry has continued to provide the model of integrity and professionalism.

AAMGA works with other professional trade associations to educate federal and state regulators and their staffs on the benefits agents and brokers provide. We have our work cut out for us. The events of the past year have made it clear that the old days of laissez-faire and Darwinian capitalism are unacceptable. Markets work and they must be allowed to work; but they will need government guidance to be resurrected from the devastating consequences of greed and unaccountability that put us in these circumstances.

However, we can ill afford to limit the very people who work hard to provide protection to the risks, homes and businesses that comprise our nation's infrastructure.

Regulatory mandates, oversight and compliance are the government's prerogative. They also are our opportunity to ensure that our regulators and elected officials do not constrain the entrepreneurial spirit we employ and work hard to protect, in order to enjoy the fruits of our properly and honorably secured labors.

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