Topic MGAs
What’s smoking hot in cannabis insurance claims trends
February 24, 2021 by Jason ContantNearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said…
Why this MGA exec predicts more Canadian MGA consolidation in the future
February 11, 2021 by Jason ContantMore mergers and acquisitions (M&A) activity between managing general agencies (MGA) is likely in the future, since private equity is focusing on this sector, giving MGAs the fiscal tools to make acquisitions, the president and CEO of one MGA told…
Why there is very little MGA consolidation
February 8, 2021 by Jason ContantManaging general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA…
Why some tech vendors are becoming MGAs
January 7, 2021 by Greg MeckbachInsurers could distribute coverage through technology firms that adopt the managing general agent model, a Montreal expert for a venture capital fund observes. “Some technology startups are adopting the MGA model to partner with a carrier or reinsurer to distribute…
What brokers need to do to place hospitality coverage
December 16, 2020 by Greg MeckbachWhen it comes to the hospitality sector, insurers’ risk appetites are constantly changing and underwriters are especially concerned about clients who get most of their revenue from alcohol, a managing general agent reports. “A broker has to spend a lot…
Canadian MGA association hires new managing director
November 6, 2020 by David GambrillSteve Masnyk has been appointed as managing director of the Canadian Association of Managing General Agents (CAMGA), established in 2018 to advocate for Canadian MGAs. With more than 20 years of experience in government relations, Masnyk is the founder and…
How Lloyd’s says the industry can make commercial policies easier to read
October 21, 2020 by Greg MeckbachTraditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler…
Veteran brokers are seeing their first-ever hard market. What they need to know.
September 18, 2020 by Greg MeckbachBrokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…
MGAs finding it harder to place this kind of commercial coverage
September 1, 2020 by Greg MeckbachIf you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner…
The impact of MGAs getting more business
August 25, 2020 by Greg MeckbachIt is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now…
U.S. wholesale broker expands into Canada with acquisition of SUM
August 11, 2020 by Jason ContantA United States-based national wholesale insurance broker has acquired Strategic Underwriting Managers, Inc. (SUM), a Canadian managing general agency for property, casualty and other specialty insurance products. Boston-headquartered wholesale broker, program manager, and insurance aggregator One80 Intermediaries announced the acquisition…
Hot Lines
August 10, 2020 by Greg Meckbach, Associate EditorA surge in directors and officers liability claims, withdrawal of some carriers from hospitality and high-profile cyberattacks are among the big trends now in commercial specialty