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SPECIAL REPORT

FIVE-STAR MGAs EXPERTISE (EXPERIENCE AND KNOWLEDGE IN LINE OF PRODUCTS) FIVE-STAR MGAs

FIVE-STAR MGAs MGA PERFORMANCE

MGA PERFORMANCE

ABEX Affiliated Brokers st Anderson McTague & Associates Angus Miller Insurance Approved Surety & Casualty Inc. April Beacon Underwriting Burns & Wilcox Cambrian Special Risks Insurance Services Can-Sure Underwriting CFC Underwriting CHES Special Risk Chutter Underwriting Services ENCON GroupAssur GroupOne Insurance Services K&K Insurance Canada Milnco Insurance Morin Elliott Associés PAL Insurance Brokers Premier Canada South Western Group Special Risk Insurance Managers Sport & Fitness Insurance Canada SUM Insurance Totten Insurance Group Underwriting Contract Administrators Inc.

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MGAs excelled when it came to expertise in the lines of products they offered: 26 out of 27 MGAs earned a five-star mark in the area, making it MGAs’ best-performing category this year. Although the majority of comments simply commended MGAs’ expertise as “good,” “excellent” or “very informative,” several brokers pointed to a lack of expertise, particularly among junior staff. “Effective training of junior underwriters by seasoned underwriter” was needed, one broker said. “Have more experienced and knowledgeable underwriters,” another recommended. Training seemed to be the touchpoint for many respondents who believed their MGAs’ expertise would benefit from a greater willingness to learn and train in their various niches and market segments. All in all, while MGAs seem to have ‘expertise’ well handled for the most part, brokers agreed that this now leaves the door open for MGAs to explore new markets and ventures in order to provide better services and expertise to their broker partners.

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OVERALL RELATIONSHIP

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ABEX Affiliated Brokers nd Anderson McTague & Associates Angus Miller Insurance Approved Surety & Casualty Inc. April Brownstone Insurance Group Burns & Wilcox Cambrian Special Risks Insurance Services Can-Sure Underwriting CFC Underwriting CHES Special Risk Chutter Underwriting Services ENCON GroupAssur GroupOne Insurance Services K&K Insurance Canada Milnco Insurance PAL Insurance Brokers South Western Group Special Risk Insurance Managers SUM Insurance Totten Insurance Group Underwriting Contract Administrators Inc.

Close behind expertise was overall relationship, for which 23 MGAs received a five-star rating this year. Brokers took the opportunity to analyze their MGAs’ entire performance and service over the past year when rating their partners in this category. MGAs’ overall positive results in the category show there is optimism that MGAs are serving brokers’ clients to their satisfaction – and beyond. WHAT DO BROKERS WANT?

“Turnaround is key for underwriting response” While MGAs scored well when it came to overall service provided to brokers – one broker even said “the service cannot get any better” – most broker comments told a different story. One broker mentioned “personal visitations and regular product training” as factors that could improve their MGA relationship. “It would be great to develop a more personal relationship with underwriters,” another said. Altogether, though, brokers are pleased with their MGA relationships, signalling a bright future for the MGA/retail channel relations.

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20/09/2017 6:57:51 AM

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