American Insurance Association (AIA)
Definition - What does American Insurance Association (AIA) mean?
American Insurance Association (AIA) is an organization mostly composed of insurance companies that sell property and casualty insurance policies. There are 350 insurance companies registered as members as of 2016. The organization lobbies for legislation in the federal and state levels that will protect and improve the insurance industry.
Insuranceopedia explains American Insurance Association (AIA)
The AIA started in 1866 as the National Board of Fire Underwriters. Then it later joined AIA and the Association of Casualty and Surety Companies to form what is now the present AIA. Its headquarters are in Washington, D.C.
It keeps a keen eye on congress, the judiciary, and insurance regulators to make sure that the laws will protect its members. It also uses its resources to lobby for laws to be passed that are favorable to the industry. It also has a legal department that is ready to defend a member in a legal conflict. Its information resource is also used by lawmakers in crafting laws about insurance.