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MGAs seek to maintain quality service to retailers while handling deluge of new business
The hardening insurance market has caused wholesalers to seek new, creative ways to serve retailers who are turning to them for coverages they no longer are able to obtain in the regular marketplace.
IN honor of the American Association of Managing General Agents' 76th annual meeting, Nevada Governor Kenny Guinn proclaimed May 5-9, 2002, as a week to recognize the organization. In his proclamation, Guinn noted that AAMGA was "founded on the principles of excellence, trust, leadership and distinction in order to expand business proficiencies and expertise for member agencies and companies."
Baron D. Garcia, AAMGA president, responded: "We're thrilled to have been honored in this way and are touched by this special welcome. This affirms that we made the right decision in selecting Nevada and Las Vegas as the gathering place for the nearly 2,000 attendees."
This month's meeting marks AAMGA's first major gathering since September 11-an event that forever changed the property/casualty insurance marketplace. MGAs need to grapple with these market changes to justify their role in the insurance arena. Discussions doubtless will continue for some time to come regarding hard market conditions, expanding markets and more efficient working conditions. Some of those topics were discussed just last November at the AAMGA midyear roundtable meetings in Scottsdale, Arizona.
Marketing tactics and operational efficiency highlighted these roundtable discussions. At a roundtable focusing on market conditions, AAMGA members agreed that the hardening insurance market has caused wholesalers to seek new, creative...