MGAs – Not Another Bite of the Cherry

Registration in advance is required

Members free: Non-members £5

This presentation will detail the history of Underwriting Agencies and explain why the MGAA was set up. It will explain how MGAs differ from wholesale brokers and how they are seen by the FCA. It will also demonstrate how their particular skill set fits within the current two tier system and how Insurers and Insurance Brokers can both benefit from their presence. By the end of the session delegates should understand:

• What an MGA or Underwriting Agent is and why the MGAA was formed
• Where MGAs fit within the UK insurance market and how they differ from wholesale brokers
• Where their fiduciary duties lie and how they are viewed by the FCA
• The unique benefits MGAs bring to the UK market and how they have grown.

Peter Staddon is a Chartered Insurance Practitioner. He spent 25 years as an Insurance Broker. He joined BIBA in 1996 where he was Head of Technical Services and had executive responsibility for the formation of their technical committees and member schemes. Peter led the delegation to ECGD, which produced the first ever Insurance Broker contract of insurance. He joined the MGAA as Managing Director in November 2013. Peter is a past author of the CII insurance study book “Insurance Broking”. The MGAA were consulted on the CII paper “Delegated Authority” and Peter sits on the panel reviewing this course.

To register contact Laura Bee via:

laura.bee@mills-reeve.com or 0121 456 8340

The Insurance Institute of Leicester holds a CII CPD Event Accreditation licence