MGAA boss Keating weighs in as broker survey backs dedicated MGA regulation
A recent survey of insurance brokers has shown backing for the establishment of a dedicated regulatory framework for MGAs, with 68% agreeing that the Financial Conduct Authority should regulate MGAs separately from insurers and brokers.
The poll, conducted by managing general agent Corin Underwriting across 147 brokers, also found 67% of brokers indicating they would be more inclined to work with MGAs if such a framework were introduced.
Mike Keating, CEO of the Managing General Agents’ Association, said: “These survey results support the continued dialogue the Association enjoys with the FCA around the topic of a dedicated regulatory framework that reflects the distinct role MGAs play in the insurance ecosystem.
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