Biba launches MGA capacity guide
The British Insurance Brokers’ Association has launched a guide to help its members access the capacity of managing general agents, in response to member demand.
The trade body outlined MGAs may undertake many tasks that insurers normally handle and rely on the insurer largely for just risk capacity and the capital that supports it. Many will also appoint insurance brokers under their own Terms of Business Agreement, Biba continued.
MGAs have become increasingly important to brokers, the association noted.
They have become “adept at designing solutions to emerging risks, especially where actuarial data might be limited, providing capacity for more
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