AFMA was established in Melbourne in 1996 to initially meet the needs of 'Fire Managers' who in today's terminology are know as Insurance Agents. IAAA on the other hand, was established in Canberra in 1989 as the Australian Multi-Agents Association, changing its name to the Insurance Agents Association of Australia in 1990 and subsequently to the Insurance Advisers Association of Australia in 2001, to represent the interests of Insurance Advisers throughout Australia.

In December 2010, both associations decided to get together and form AFMA/IAAA to further advance the interest of Members by combining their resources and membership bases.

The combined group has close to 200 authorised representatives and brokers as members who are spread throughout Australia.

AFMA / IAAA members are required to:

• practice the highest principles of business ethics in all aspects of their business relationships with their clients, insurers, members of the public and insurance industry in a manner that enhances the image of the insurance professional.
  
  
• be conversant with and act in accordance with the duties and obligations imposed by the Financial Services Reform Act 2001 and other relevant insurance and consumer legislation and Codes of Practice
  

Both Associations have a proud history of support for their Members, providing technical assistance, regular State meetings and successful annual National Conferences, both forums providing many first class guest speakers on educational and practical topics relevant to our industry.

We maintain close working relationships with the Insurance Council of Australia, the Australian and New Zealand Institute of Insurance and Finance, Legislators and other industry groups.

The combined Association is continually negotiating on behalf of its Members with Insurers, Legislators and other relevant bodies, continually striving for and working towards a logical and sensible environment for our Members to best serve the needs of their clients. In addition, we seek to assist members by seeking service providers who are able to assist members in the day to day running of their businesses