Independent Insurance Agents and Brokers of America (IIABA)

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.

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

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.