Founded in 1981, the National Association of Independent Life Brokerage Agencies (NAILBA) was created as a request that was rejected by a small group of wholesale brokerage agencies to form a council in another trade organization. So, the group decided to establish itself as a standalone organization. According to Joseph Normandy, executive vice president of the organization, NAILBA's mission is to optimize and advocate for the independent wholesale life brokerage distribution system.
At the beginning, the organization had 53 charter member agencies, which has ballooned over the years to 341 member agencies.
"When NAILBA first began 25 years ago, there weren't too many who thought the organization would survive its first year, let alone 25 years," said Normandy. "At that time, our industry, the wholesale independent life brokerage industry, was considered a pariah. The fact that we have had as much success as we have experienced the last 25 years is a testament to our leadership, both past and present. Today, I can safely say that NAILBA has claimed its rightful seat at the table where conversations affecting all matters of life insurance are discussed."
To become a member, you must be an established, duly licensed, independent wholesale brokerage agency that derives its primary income from independent wholesale life brokerage distribution. Agency prospects must complete a membership application and provide testimonial letters from at least three carriers that both support the wholesale contractual relationship between the carrier and the prospect and confirm that the prospect places a minimum of 12 new cases with the company during a calendar year.
Associate membership is for agencies owned by, not controlled by, an insurance carrier. Provisional membership is for those agencies clearly in the wholesale brokerage business but not yet able to meet the qualifications of regular membership. Provisional memberships are only good for two years.
The benefits of membership are extensive, including:
| o | A complimentary customized copy of the brand-new Field Underwriting Guide, co-branded for your agency. |
| o | Access to the NAILBA Key Contacts Directory, where a member representative can locate the carrier contact information they need. |
| o | Access to the BGA Training Series. |
| o | Anti-Money Laundering Training, co-branded for your agency. |
| o | Discounted E&O insurance coverage. |
| o | Access to a top-flight co-branded agent E&O program. |
| o | The opportunity to attend both the NAILBA Annual Meeting and FOCUS at zero registration cost. Access to both meetings is available to member agencies and exhibitors and sponsors only. |
| o | Legislative and regulatory advocacy, exclusive to wholesale brokerage. |
| o | Access to technological best practices and standards. |
| o | Free subscription to Perspectives, the recognized publication leader in wholesale brokerage. |
| o | Access to timely e-newsletters. |
| o | Discounts on services such as DHL, OfficeMax, and Lenovo computers. |
For more information on membership or the organization in general, contact Michelle Jones at mjones@nailba.org or Amelia Ragan at 703-383-3081 or aragan@nailba.org.
