MGAA to clear 'mist of confusion' surrounding MGAs
The Managing General Agents' Association (MGAA) has claimed it will establish a clear differentiation between prospective members and the broking community as it gears up for launch this month.
Chair of MGAA's steering committee, Reg Brown, said he wanted to clear the "mist of confusion" surrounding what a managing general agent (MGA) was and what it did.
"A MGA represents the insurer; it is an intermediary for sure but it is not a broker. We are not a trade association for brokers with binding authorities as they are already looked after by the British Insurance Brokers' Association and the Institute of Insurance Brokers.
"Current regulation regards MGAs as wholesale brokers and this
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