Flood Re now open directly to MGAs
Initiative will enable MGAs to access Flood Re cover and is designed to make it more widely available.
Flood Re have announced that Managing General Agents (MGAs) can now cede policies directly to the government scheme.
Previously, the process was more complicated: MGAs had to collate and send ceding data through an insurer in order to apply for a Flood Re policy.
Flood Re detailed that the new offering will enable MGAs to send Flood Re policies the same way that insurers do. And it suggested that the new facility will give all parties visibility on the risks the insurer and MGA have adopted.
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