AMII members voted for insurers to join membership in an emergency general meeting today, and Bupa is set to be the first to sign.
COVER can report exclusively that 40 out of 45 AMII members at the meeting voted for the constitution to be changed to allow for insurer membership; it represented 40% of the body's membership overall.
COVER can also reveal that AMII has been in discussions with Bupa for some time about membership and a verbal agreement has been made, but no contracts have been signed as yet.
Wayne Pontin, chairman of AMII, said: "The most important reason for this is to make the body financial viable. If it had carried on as it was we would have run out of money in three years.
"We will now be more financial stable going forward to put us on a firm footing to continue with our education programme with the CII and improving IF7."
He added the move would enable AMII to represent all sides of the industry and become a more unified voice.
According to Pontin, the main opposition to the move at the meeting was concern about the level of influence insurers would have on the AMII voice.
Pontin responded by explaining providers would not have any voting rights.
Kath Grimshaw, PMI broker at advice-firm Caprica Healthcare, said: "I am unsure how this will work if insurers are added to the membership because it has always been made up of people like me doing the work at the front end with clients.
"If the insurers are part of it then will it not mean they will also be party to all the discussions? And I am not sure how that will work."
She added the firm had ended its AMII membership last year because it had not seen any value in AMII for the last five years.
But Grimshaw said Pontin was definitely trying to make a positive difference and make some real changes to take the body forward.
John Davidson, PMI and protection specialist at advice firm Ringrose Grimsley, said: "The danger is that the organisation risks becoming a hostage to fortune with the providers.
"I felt at the autumn AMII conference that the providers on the stage had rather an easy time of it, especially Tony Wood from Bupa."
