Small business insurance agency , Insureon , has hired Insureon Underwriting Managers , a managing general contractor ( plc ) 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 scheme may have to function as an MGA and highlights a trend among insurance companies to offer MGAs which has been noted in the insurance industry .
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.