Broker boss concerned about MGAs priortising profit commission over claims
Concerns have been raised that some managing general agents might choose to protect profit commission over paying or even discussing ‘grey area’ claims in the present soft market.
Sitting on the panel The risks no one is pricing properly: what gets missed in a competitive market at last week’s Broker Expo Roadshow in Bristol, Sustain Insurance Brokers founder Jonathan Evans noted he was a big fan of MGAs.
However, he added that whilst he was not seeing a massive change in the number of declinatures from insurers presently when it came to claims, he sensed a growing pressure on MGAs to deliver good loss ratios for capacity providers.
If the broker does not do what I would
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