MGA criticises minimum GWP commitments as broker trading ‘barriers’
NBS Underwriting has said minimum gross written premium commitments ‘place barriers’ in trading and make life ‘difficult’ for brokers, and vowed not to use them.
The topic of minimum premium commitment has divided opinion in the UK insurance industry, with some believing smaller brokers keen to grow accounts should not have to jump through premium commitment hoops to trade.
NBS Underwriting managing director Steve Cowman said: “At NBS, we believe in building long-term relationships and don’t look to place barriers in the way of brokers who wish to do business with us.
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