Poor insurer service feeds existence of MGAs
Consistently poor insurer service levels have allowed managing general agents (MGAs) to cement their place in the market, according to one of the latest entrants to the sector.
In an exclusive interview on Insurance Age website broking.co.uk, Jonathan Davey, managing director of Keychoice Underwriting, provided a robust defence of the model claiming that MGAs existed only because a vacuum had been created by insurers.
"A number of insurers took a punt that the [introduction] of the Financial Services Authority would close many brokers down.
"The reality is there are still thousands of brokers and they have a requirement for service and to be supported but insurers'
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