New York partner Michael Halsband and London associate Kristi Garrett authored an article for Insurance Day titled “Sandbox or Playground? Operating as an MGA in a Regulated Environment is Not Child’s Play.”
In a sector deep with capital, corporate re/insurance capacity is finding strong competition from private equity firms, institutional investors and elsewhere, which is fueling efforts to acquire underwriting platforms and develop new sources of risk origination. Partnering with or establishing a binding authority underwriting platform as a Managing General Agent (MGA) is one of the quickest access points to insurance risk origination. The MGA designation, however, carries statutory meaning and obligations, and regulatory reach and oversight goes deep.
In this article, Michael and Kristi discuss the pace of innovation, the competitive landscape, and common pitfalls to avoid as the regulated environment continues to evolve.