Coverage of the Cover Holders and Risk Takers-Exchange Conferences
John Bennis, president, MGA Systems, said many Insurers and MGAs are turning to portals and automation to boost sales and cut expenses.
Jason Murgio, CEO, Merger & Acquisition Services, said speciality distributors including managing general agents and managing general underwriters, are actively sought for sales and acquisitions.
Allen and Bintou Chatterton of Chatterton Insurance said syndicates have become more open to developing business relationships outside of the London market, even with smaller agencies.
Brokers at the third annual CHART-Exchange conference, held in Baltimore, said they rely on the London insurance market to provide coverages for risks deemed too specialized or challenging for standard insurers.
Thomas Wilson, partner, Wilson Elser, said brokers and managers looking to launch an insurance program often devote more than a year to starting up, and face a range of regulatory requirements.
Copyright © 2017 A.M. Best Company, Inc. and/or its affiliates ALL RIGHTS RESERVED.
