Biba 2025: Mike Keating on unrated due diligence
Mike Keating, CEO of the Managing General Agents’ Association, analyses how due diligence on unrated capacity should work both ways – from broker to MGA and MGA to broker respectively.
The MGAA has close to 70 insurer members. When looking at new insurers joining, the association decided it will accept unrated carriers and now has a number within its stable.
Keating noted the trade body does the necessary due diligence, investigating the solvency ratio for example.
He said: “We’re very clear to members that they are unrated.
“But quite rightly, we believe our role as an association is to ensure and give recommendation that MGAs should – and they do this far more they did before –
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