Minimum GWP commitments divides broker opinion as MGA makes request
Aqueous Underwriting is asking brokers for a new minimum commitment in premium, promising top quality service in return.
The managing general agent is asking for £25,000 minimum gross written premium annually for SME package in an email update to brokers.
Brokers agree the figure is a reasonable request, especially as it is much lower than some what some insurers demand, however the idea of minimum commitment has polarised broker opinion.
I would say that £25,000 is reasonable. MGAs can’t just ask brokers for the odd case, when there’s all the administration behind it. It’s perfectly reasonable. Stuart
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