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Industry News
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 Agency Valuation --- Past, Present and Future Forecast predicts a decreased value, more agencies on the market in the coming years.
In 2007, agency value was at an all-time high due to a demand for agency acquisitions that drove the average deal to more than seven times the EBITDA (earnings before interest, taxes, depreciation and amortization), according to a Marsh-Berry’s 2008 Insurance Agency/Broker Value Forecast. However, agency values are expected to decrease in the next few years as the soft market takes its toll on the industry.
Learn more...
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Big "I" News
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 Senate Approves Flood Legislation
Big “I” praises legislation to extend National Flood Insurance Program
The Independent Insurance Agents & Brokers of America (the Big “I”) applauds Senate Banking Committee Chairman Chris Dodd (D-Conn.), Ranking Member Richard Shelby (R-Ala.) and the other members of the Senate, for passing the Flood Insurance Reform and Modernization Act (FIRM) of 2008.The FIRM Act, introduced by Chairman Chris Dodd and Ranking Member Shelby, would help modernize and reform the National Flood Insurance Program (NFIP). Learn more...
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For the Consumer
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Consumers Can Minimize Homeowners Insurance Non-Renewals, Rate Increases
A new national survey by Trusted Choice® and The Independent Insurance Agents & Brokers of America (the Big "I") found that nearly 3.0 million households have lost their homeowners coverage since 2003. Despite the aftermath of Hurricane Katrina, most homeowners have done nothing to structurally reinforce their home to protect against a natural disaster.
Full story.
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Big "I" Spotlight
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ACT Executive Director Receives Top Honor
Earlier this week, Jeff Yates, executive director of the Agents Council for Technology (ACT), was honored with the ACORD Rainmaker Award at the ACORD Board/Act and AUGIE dinner. The award is presented to individuals who support the implementation of ACORD standards and it is only given in years when there is a deserving recipient. Yates has been an long-time advocate of ACORD, a nonprofit association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries and ACT, the partnership of independent agents, companies, technology vendors, user groups and associations dedicated to enhancing the use of technology and improved work flows within the independent agency system.
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