As an MGA or MGU, why might you be seeking new capacity?
You may have recently lost capacity support and need to find replacement capacity quickly.
You may be concerned that existing capacity support for your program may be withdrawn. Often, this has nothing to do with the underwriting performance of the book but could be due to changes in personnel, strategy, risk appetite, financial strength ratings or availability of licenses of your Capacity Providers.
Many MGAs and MGUs with Lloyd’s capacity have become increasingly concerned with continuity of support with Syndicates unexpectedly going into run-off, Syndicate business plans not being approved until the last minute and with increased bureaucracy and cost.
You may be seeking capacity support from an insurer with stronger Financial Strength Ratings in order to be able to be more attractive to brokers and insureds and/or are concerned about potential downgrades of existing capacity support.
You may be reliant on a few capacity providers at present and proactively want to reduce your capacity concentration risk by broadening support.
You may be seeking to add new products or launch entirely new lines of business and require capacity support to achieve this.
You may be seeking greater underwriting authority (such as moving from prior submit to fully-delegated), the ability to write larger limits or greater territorial scope, offer wider product coverage or have (greater) claims handling authority.
You may be seeking better commission or fee arrangements or move from a 1-year agreement to a multi-year with Capacity Providers.
Capacity Place is an excellent way to source markets for your insurance programs
Your program is relevance-scored against Capacity Providers’ risk appetite to source markets with the best fit.
Share commercially-sensitive documents through our secure repository where you control who has access
Keep track of all interested Capacity Providers in one place from initial enquiry through to conclusion
Reach a broader set of risk carriers including insurers, reinsurers, Lloyd’s underwriters, ILS funds, fronting carriers and more
Expand your prospective markets beyond local contacts with Capacity Providers from across the globe
Comprehensive program listings direct to Capacity Providers generates competitive interest and enables quick decision making
A. Absolutely. It’s one of the main reasons we created capacity place.
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