Keyword
MGA
Is it possible for MGAs to become too mainstream?
July 5, 2023 by Alyssa DiSabatinoWhile Managing General Agents (MGAs) say their firms are here to stay, their competitors are discussing whether the specialty underwriting market is oversaturated. The topic arose in response to an audience question about whether the industry acknowledges the role MGAs…
How Lloyd’s is addressing MGA pain points
June 13, 2023 by Jason ContantLloyd’s is looking to address a major pain point for MGAs — duplication of compliance requests from syndicates. The insurance marketplace is looking to kickstart and facilitate conversations with syndicates on compliance and due diligence, Jane Harley, head of delegated…
Broker regulator outlines approach to MGA licensing
June 12, 2023 by Jason ContantOntario’s broker self-regulatory body is looking at its licensing exams with a stronger focus on commercial lines and MGAs, Registered Insurance Brokers of Ontario (RIBO) CEO Patrick Ballantyne said last week during an industry event. “Those exams are currently under…
How insurers will handle new third-party risk-management guideline
May 18, 2023 by Alyssa DiSabatinoCanada’s financial solvency regulator’s new guideline for managing risks associated with third parties (including brokers) will require insurers to find a ‘balance point’ for compliance, one industry expert said. The Office of the Superintendent of Financial Institutions Guideline B-10: Third-Party…
Why MGAs are here to stay
May 2, 2023 by Alyssa DiSabatinoHard markets have historically offered a tremendous opportunity for growth for managing general agents (MGAs), but industry experts say they will be here to stay even when the market softens. Unlike primary insurers, MGAs provide capacity in specialized areas of…
Why RIBO’s considering a harmonized standard for broker licensing, and MGA carve-out
October 4, 2022 by Jason ContantThe Registered Insurance Brokers of Ontario (RIBO) is working with the Canadian Insurance Services Regulatory Organizations (CISRO) to review property & casualty agent and broker education and training requirements to make recommendations regarding a harmonized standard. This could take the…
Brokers and carriers react to MGA self-regulation
March 28, 2022 by Jason ContantProperty and casualty insurance carriers and brokers have embraced the Canadian Association of Managing General Agents’ (CAMGA) self-regulatory regime, the association’s managing director tells Canadian Underwriter. Late last year, CAMGA’s board and membership approved and adopted the undertaking as a…
Will brokers have a one-stop shop for MGAs?
February 23, 2022 by Jason ContantThe Canadian Association of Managing General Agents (CAMGA) is looking at using a technology platform that will make it easier for brokers to deal with MGAs. “CAMGA’s currently in the exploratory process of building a platform that will make it…
MGA regulatory regime unveiled: What you need to know
November 16, 2021 by Jason ContantCanada’s association for managing general agents (MGAs) has unveiled a regulatory regime that will codify minimum business operating standards for these P&C intermediaries in Canada. The Canadian Association of Managing General Agents (CAMGA) announced the voluntary measures and membership requirements…
When the Canadian MGA space will get a ‘smart and self’ regulatory regime
October 25, 2021 by Jason ContantCanada’s managing general agent association will unveil a ‘smart and self-regulatory’ regime in early November, the association’s managing director told Canadian Underwriter Monday. “This is something the association has been working on since earlier this year,” Canadian Association of Managing…
Boom or bust: What MGAs are seeing in commercial lines
July 27, 2021 by Jason ContantWith many people still working from home, one marine underwriter has seen the pleasurecraft line of business “take off.” But that doesn’t mean it’s smooth sailing for marine underwriting. It can still be difficult finding capacity for small- or mid-sized…
Canadian MGA association selects MaryKate Townsend as president
July 12, 2021 by Jason ContantMaryKate Townsend of Pacific Marine Underwriting Managers (PMU) has been named president of The Canadian Association of Managing General Agents (CAMGA), a national trade association representing MGAs in Canada’s property and casualty insurance industry. Michael Lough of Intact Public Entities…