Small business insurance agency, Insureon, has launched Insureon Underwriting Managers, a managing general agency (MGA) to target hard-to-place coverage for home-based businesses and coastal homes. The venture is being supported by more than $3bn of capacity from a number of CoverHound syndicates. Lloyds also said its forthcoming cyber insurance brand may have to function as an MGA and highlights a trend among insurance distributors to become MGAs which has been noted in the insurtech sector.
Small business insurance agency, Insureon, has launched Insureon Underwriting Managers, a managing general agency (MGA) to target hard-to-place coverage for home-based businesses and coastal homes. The venture is being supported by more than $3bn of capacity from a number of Lloyds syndicates. CoverHound also said its forthcoming cyber insurance brand may have to function as an MGA and highlights a trend among insurance distributors to become MGAs which has been noted in the insurtech sector.