WSIA: Everything you need to know
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Headquarters address |
4131 N. Mulberry Drive, Suite 200, Kansas City, Missouri 64116, United States |
|---|---|
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Year established |
2017 (merger of the AAMGA and NAPSLO) |
| Member firms | 735 |
| Expertise | Wholesale, specialty, & surplus lines |
| Key people | Brady Kelley (executive director), Brenda Austenfeld (president) |
About WSIA
The Wholesale & Specialty Insurance Association (WSIA) is a member service organization representing the wholesale, specialty and surplus lines industry. It was formed in August 2017 with the merger of the American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO).
The WSIA provides networking opportunities, education, talent recruitment and development initiatives, and regulatory and legislative advocacy for the wholesale, specialty and surplus lines insurance industry.
The organization has more than 700 member firms representing tens of thousands of insurance brokers, insurance company professionals, underwriters and other insurance professionals around the world that conduct business in the US surplus lines market.
More about AAMGA
The AAMGA was founded in 1926 to provide networking, education and advocacy for the wholesale and excess and surplus lines insurance industry. MGAs were only admitted to the association’s ranks if they demonstrated high standards of excellence and experience, integrity and company representation. The association expanded its membership ranks in 1983 to welcome domestic and foreign insurance companies, underwriters and other organizations that provided significant insurance related services to the wholesale insurance system.
More about NAPSLO
NAPSLO was created in 1975 as a professional trade association for the surplus lines industry and the wholesale sector. Its membership included insurance brokers, agents and underwriters, who worked in the wholesale insurance distribution system and the surplus lines industry. Like the AAMGA and eventually the WSIA, the association provided networking, education and career development programs, and regulatory and legislative advocacy on behalf of members.
Why did AAMGA and NAPSLO merge?
The AAMGA and NAPSLO were heavily intertwined with regards to the services and support they offered. Approximately 76% of AAMGA members were also NAPSLO members, while 48% of NAPSLO members were also AAMGA members. By merging together to become the WSIA, members gained access to a concise listing of programs and services without having to choose between similar offerings from the two organizations.
At the time of the merger in August 2017, WSIA executive director Brady Kelly commented: “While we have a new name, a new brand and a renewed energy and purpose, our core mission and values have not changed. We remain focused on perpetuating the success of the legacy organizations. Our advocacy and services support the same segment of the industry … We now represent the overwhelming majority of the US wholesale, specialty and surplus lines marketplace.”
WSIA member demographics
In 2022, WSIA membership consisted of 735 firms, comprised of four membership classifications:
The WSIA Annual Marketplace and the Spring Underwriting Summit
The WSIA holds numerous networking and educational events throughout the year, but its two leading shows are the WSIA Annual Marketplace and the Spring Summit. The WSIA Annual Marketplace is widely recognized as the premier event for the wholesale, specialty and surplus lines industry, and is attended by approximately 4,500 people from around the world who are keen to connect with the specialty markets.
The WSIA Underwriting Summit is a slightly more relaxed affair than the Annual Marketplace. This event is designed to provide networking opportunities for the underwriting and delegated authority segment of the WSIA membership.
Leadership at WSIA
The first ever president of the WSIA was Corrine Jones, EVP of operations for AmWINS Access Insurance Services. She was succeeded by Jacqueline Schaendorf, president and CEO of Insurance House in 2018. Joel Cavaness, president of Risk Placement Services, served for the 2019 term, succeed by Bryan Sanders, president, Markel Assurance. For the 2022 term, it is Bryan Clark, president of Gorst & Compass Insurance.
The U40 group
The WSIA’s U40 group is a key focus for the association, which says it is: “committed to developing awareness about surplus lines career opportunities and cultivating interest in them by young and emerging talent.” WSIA U40 members must be 40 and younger, employed by WSIA member firms, and show a commitment to assisting the WSIA in developing young talent. The U40 hosts an annual conference with education and networking opportunities, and it’s heavily involved in college outreach.
The WSIA Education Foundation
When AAMGA and NAPSLO merged in 2018, they also brought their educational foundations together. The AAMGA Education Foundation and the Derek Hughes / NAPSLO Educational Foundation merged to become the WSIA Education Foundation. The foundation encourages educational development for all those interested in E&S business with a goal of overcoming any misperceptions in the E&S lines market.
The WSIA Education Foundation also provides financial support for the education programs for WSIA members, as well as support for the A.M. Best Company’s annual review of the surplus lines segment, which the WSIA describes as “a valuable tool for the industry.” Furthermore, the foundation maintains and improves the Associate in Surplus Lines Insurance (ASLI) designation program, administers student-focused educational programs, and conducts significant university outreach to attract talent to the industry.
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