The Professional Insurance Wholesalers Association of New York State was created in 1978 as the New York Excess and Surplus Lines Association Ltd. At the time, the association's purpose was to exchange information on topics of concern to members, and to communicate educational data that would make members more effective and efficient dealing with all forms of insurance, with an emphasis on issues of special interest to members.
In 1984, the association became the Professional Insurance Wholesalers Association Ltd. Further revisions to the bylaws expanded both the mission of the organization and its membership categories, and refined guidelines covering maintenance of membership, dues, voting, directors and others. In 1989, the bylaws were changed once more and gave the organization its current name, the Professional Insurance Wholesalers Association of New York State, Inc.
Today, PIWA is a trade association representing New York state insurance wholesalers who serve retail insurance producers with specialty and excess lines markets. Associate membership is also offered to specialty insurance carriers with which these wholesalers do business. The wholesale brokers and specialty companies are afforded the opportunity to be members of one central organization designed to address many mutual interests and concerns. PIWA provides legislative and regulatory advocacy; networking opportunities; continuing education; industry outreach; and more. Members exchange information of concern to professional wholesalers and are assisted in being more effective and efficient for their clients—the state’s retail insurance producers.
Working with a PIWA member
PIWA wholesalers make a dedicated effort to know the specialty marketplace and its unique procedures. They place large volumes of specialty business and have long-term relationships with specialty markets, providing the retailer with much-needed clout. And PIWA wholesalers subscribe to a high level of professional standards and a code of ethics.
PIWA members have studied the available specialty markets and are conversant with the ins and outs of writing business through specialty and non-admitted companies. They know the markets, and they know the laws and regulations. Many specialty companies ONLY accept business from licensed surplus lines brokers.
PIWA members’ awareness of markets, pricing, applications and underwriting requirements save retail producers time and money, and provide the best service available to the insurance-buying public. Excess line licensees will file the necessary affidavits and surplus lines taxes required by New York state, avoiding penalties for non-compliance of the laws.