Insurance

Brokers demand more AM Best ratings for MGAs

by Rod Bolivar

The majority of UK insurance brokers are calling for more managing general agents (MGAs) to undergo AM Best performance assessments, with 81 per cent supporting the idea and 77 per cent saying such a rating would influence their choice of partners.

The findings come from a recent survey conducted by Corin Underwriting, highlighting the growing demand for transparency and credibility within the industry.

The AM Best Performance Assessment for Delegated Underwriting Authority Enterprises (DUAEs) is an independent evaluation that gives a non-credit opinion on an MGA’s ability to provide services for its insurance partners. This assessment includes a detailed analysis of key areas such as underwriting skills, governance, financial health, organisational talent, and the strength of relationships. It provides an objective view of an MGA’s operations and stability.

Read the full news article at: Insurance Business News – MGA Assessments

Or this other similar reporting at Insurance Edge by Alastair Walker:
New Survey Reveals Broker Demand for MGA Ratings Insurance Edge logo

Best’s PA for DUAEs gives DUAEs of all sizes and in all segments the opportunity to differentiate themselves in the marketplace and establish a global benchmark of their ability to service their business partners. Reach out to our Market Development team and we will be happy to discuss this story or to share our experience of the DUAE sector and our assessment process. Contact Roisin.Gallagher@ambest.com.

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