Excess/Surplus

Introducing the WSIA and its Annual Marketplace

The AAMGA and NAPSLO merged to create the Wholesale & Specialty Insurance Association — a member services organization servicing the wholesale, specialty and surplus lines industry.
By: | September 6, 2017 • 2 min read

August saw the merger of the American Association of Managing General Agents and the National Association of Professional Surplus Lines Offices. Together, AAMGA and NAPSLO create the Wholesale & Specialty Insurance Association.  The new organization aims to showcase the best of both worlds.

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“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,” said Brady Kelley, Executive Director of WSIA.

“The AAMGA and NAPSLO have always maintained open channels of communication,” he said. “Our advocacy and services support the same segment of the industry.”

Now, a little over a month later, members will start to see the benefits.

Joining forces enabled WSIA to give members a concise listing of programs and services, eliminating the need for members to choose between similar offerings from the two existing organizations. The organization also embraced the opportunity to broaden the education and professional development curriculum it offered.

In fact, WSIA rolled out its first education program in August.

Before the merger, leaders from both AAMGA and NAPSLO realized they were heavily intertwined: 76 percent of AAMGA members were also NAPSLO members, and 48 percent of NAPSLO members were also AAMGA members.

“We now represent the overwhelming majority of the U.S. wholesale, specialty and surplus lines marketplace,” Kelley said.

WSIA Annual Marketplace

Every year, NAPSLO hosts its Annual Convention, a gathering of surplus lines industry and wholesale insurance professionals. WSIA aims to bring the same dedication to these industries under a new name: the WSIA Annual Marketplace.

The conference is set to run Sept. 10 through Sept. 13 at the Manchester Grand Hyatt San Diego in San Diego, California.

Brady Kelley, executive director, Wholesale & Specialty Insurance Association

“The Annual Marketplace will be our first large networking event as WSIA, replacing what was the NAPSLO Annual Convention,” said Kelley.

“Our general session on September 13 will celebrate the merger, our strong legacies, past leadership and our complete integration. There will be no mistaking it is the WSIA’s Annual Marketplace.”

WSIA says it has 4,300 attendees lined up for its Annual Marketplace.

“One of our U40-hosted sessions will focus on the value of wholesale distribution, including the findings of the 2016 Conning report that studied the cost of distributing commercial insurance policies through wholesale brokerage as compared to retail brokerage channels,” Kelley explained.

Dave Leonard and Hank Haldeman, two of NAPSLO’s past presidents and the leaders of the project, will be speaking during the session.

“They will focus on Conning’s findings that the wholesale distribution channel adds significant value to an insurance transaction but does not add cost,” Kelley said.

The keynote speaker this year, Randi Zuckerberg, founder and CEO of Zuckerberg Media, will address the general session on Wednesday, Sept. 13.

Zuckerberg Media is a boutique marketing firm and production company, which Zuckerberg founded. Before that, she worked at Facebook from 2005 till 2011, running the social media pioneer’s marketing programs.

Autumn Heisler is a staff writer at Risk & Insurance. She can be reached at [email protected]

More from Risk & Insurance

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Risk Management

The Profession

As a professor of business, Jack Hampton knows firsthand the positive impact education has on risk managers as they tackle growing risks.
By: | April 9, 2018 • 4 min read

R&I: Who is your mentor and why?

Ellen Thrower, president (retired), The College of Insurance, introduced me to the importance of insurance as a component of risk management. Further, she encouraged me to explore strategic and operational risk as foundation topics shaping the role of the modern risk manager.

Chris Mandel, former president of RIMS and Risk Manager of the Year, introduced me to the emerging area of enterprise risk management. He helped me recognize the need to align hazard, strategic, operational and financial risk into a single framework. He gave me the perspective of ERM in a high-tech environment, using USAA as a model program that later won an excellence award for innovation.

Bob Morrell, founder and former CEO of Riskonnect, showed me how technology could be applied to solving serious risk management and governance problems. He created a platform that made some of my ideas practical and extended them into a highly-successful enterprise that served risk and governance management needs of major corporations.

R&I: How did you come to work in this industry?

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From a background in corporate finance and commercial banking, I accepted the position of provost of The College of Insurance. Recognizing my limited prior knowledge in the field, I became a student of insurance and risk management leading to authorship of books on hazard and financial risk. This led to industry consulting, as well as to the development of graduate-level courses and concentrations in MBA programs.

R&I: What was your first job?

The provost position was the first job I had in the industry, after serving as dean of the Seton Hall University School of Business and founding The Princeton Consulting Group. Earlier positions were in business development with Marine Transport Lines, consulting in commercial banking and college professorships.

R&I: What have you accomplished that you are proudest of?

Creating a risk management concentration in the MBA program at Saint Peter’s, co-founding the Russian Risk Management Society (RUSRISK), and writing “Fundamentals of Enterprise Risk Management” and the “AMA Handbook of Financial Risk Management.”

A few years ago, I expanded into risk management in higher education. From 2017 into 2018, Rowman and Littlefield published my four books that address risks facing colleges and universities, professors, students and parents.

Jack Hampton, Professor of Business, St. Peter’s University

R&I: What is your favorite book or movie?

The Godfather. I see it as a story of managing risk, even as the behavior of its leading characters create risk for others.

R&I: What is your favorite drink?

Jameson’s Irish whiskey. Mixed with a little ice, it is a serious rival for Johnny Walker Gold scotch and Jack Daniel’s Tennessee whiskey.

R&I: What is the most unusual/interesting place you have ever visited?

Mount Etna, Taormina, and Agrigento, Sicily. I actually supervised an MBA program in Siracusa and learned about risk from a new perspective.

R&I: What is the riskiest activity you ever engaged in?

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Army Airborne training and jumping out of an airplane. Fortunately, I never had to do it in combat even though I served in Vietnam.

R&I: If the world has a modern hero, who is it and why?

George C. Marshall, one of the most decorated military leaders in American history, architect of the economic recovery program for Europe after World War II, and recipient of the 1953 Nobel Peace Prize. For Marshall, it was not just about winning the war. It was also about winning the peace.

R&I: What about this work do you find the most fulfilling or rewarding?

Sharing lessons with colleagues and students by writing, publishing and teaching. A professor with a knowledge of risk management does not only share lessons. The professor is also a student when MBA candidates talk about the risks they manage every day.

R&I: What is the risk management community doing right?

Sensitizing for-profit, nonprofit and governmental agencies to the exposures and complexities facing their organizations. Sometimes we focus too much on strategies that sound good but do not withstand closer examination. Risk managers help organizations make better decisions.

R&I: What could the risk management community be doing a better job of?

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Developing executive training programs to help risk managers assume C-suite positions in organizations. Insurance may be a good place to start but so is an MBA degree. The Risk and Insurance Management Society recognizes the importance of a wide range of risk knowledge. Colleges and universities need to catch up with RIMS.

R&I: What emerging commercial risk most concerns you?

Cyber risk and its impact on hazard, operational and financial strategies. A terrorist can take down a building. A cyber-criminal can take down much more.

R&I: What does your family think you do?

My family members think I’m a professor. They do not seem to be too interested in my views on risk management.




Katie Dwyer is an associate editor at Risk & Insurance®. She can be reached at [email protected]