Al Diamond and his committee (mostly Al) have been working for the past year on an update of AAIMCo’s publication, "Standards & Guidelines for Appraising Insurance Agencies / Brokerages". As is stated in the SGAIAB:
"It is our mission to establish and promulgate specific industry recommended standards and guidelines to be used and applied when performing, preparing and reporting appraisals of
- insurance agencies, brokerages or
- of other entities whose primary function is the sale and/or servicing and/or administration of insurance policies and programs and/or
- of insurance-related books of business. The establishment of standardized procedures and methods will promote consistency and enhances the appraisal process and increases the appraisals credibility and reliability of the information with clients, courts and other interested parties.
The American Association of Insurance Management Consultants is dedicated to being the source for the establishment of appraisal standards and guidelines used in the evaluation of insurance entities providing sales and services within the insurance industry."
Al and the many individuals who have worked with him on the SGAIAB since it was first published in 2002 have done an outstanding job of fulfilling this Mission, but keeping the publication current and relevant is critical. The members in attendance at the annual conference in San Antonio reviewed and approved of the proposed update, but felt that the entire membership should be given another opportunity (a copy was sent out prior to the Conference), to voice any suggested changes. Therefore, we have scheduled a conference call with Al and the committee for this Wednesday, September 7, at 4:00 Eastern to discuss it. Please make every effort to participate. The call in number is 712-775-7031 and the code is 657166.