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Standards & Guidelines For Appraising Insurance Agencies / Brokerages 2015

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Standards & Guidelines For Appraising Insurance Agencies / Brokerages

General Preamble

1.   The American Association of Insurance Management Consultants (“AAIMCo”) has adopted these Standards and Guidelines for Appraising Insurance Agencies/ Brokers (“Standards”).

2.   These Standards should be followed, to the extent possible, by AAIMCo members who perform appraisals for the insurance industry.

3.   These Standards provide general criteria for appraising insurance agencies.

4.   These Standards are published for the purpose of promoting uniform, recognized practices and procedures for appraising insurance agencies.

5. If the appraiser departs from these general Standards, such departures should be disclosed and explained in the appraisal report.

6.   These Standards are published to provide guidance to AAIMCo members who perform appraisals. Deviations from these Standards are not intended to form the basis of any civil liability and should not create any presumption or evidence that a legal duty has been breached.  Moreover, compliance with these Standards does not create any special relationship between the appraiser and any other person.   These Standards are offered for general information purposes, and are not intended to provide specific advice about individual legal, business or other matters.  It has been prepared as a guide to assist professionals in the evaluation and appraisal of insurance agencies and / or their books of business.

 

 

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