Discover tailored Errors and Omissions Insurance designed specifically for Managing General Agents. See how our specialized coverage can protect your business against regulatory, contractual, and professional risks.
Get started now for peace of mind and operational security.
Managing General Agents face a complex array of risks, including regulatory compliance issues, contractual liabilities, and professional negligence claims. Liability exposures can vary primarily because of the Unique role MGAs play in underwriting and managing delegated authority on behalf of their carriers.
As the Broker of Record for CAMGA’s Errors & Omissions program, Ai Insurance Organization recognizes these challenges, and we have meticulously worked with CAMGA and designed an E&O program with the specific risks and requirements of MGAs in mind.
Consequently, liability exposure can significantly impact an MGA’s operations and financial stability. Since policy coverage and pricing needs to be different, our Lloyds of London Errors and Omissions program offers just that.
To start your errors and omissions insurance quote and request a callback from one of our professional liability insurance experts, please fill out the form to the right and we will get back to you in a timely manner.
Our tailor-made Lloyds of London Errors and Omissions insurance provides robust protection, enabling MGAs to manage their unique risks with confidence and security.
With extensive expertise and licensing across all provinces (except Quebec and the Territories), we are uniquely positioned to address the specific needs and challenges faced by MGAs.
We understand the complexity of liability exposures and offer comprehensive risk management strategies, including tailored insurance solutions to safeguard against potential claims and ensure the sustainability of your operations.
Our Errors and Omissions insurance addresses critical MGA exposures, such as claims of negligence, mistakes, or omissions in professional services, ensuring you are protected against errors in underwriting decisions, missed coverage, or policy term misinterpretations.
MGAs’ directors and officers can be held liable for the decisions and actions they take in the management of the business. This includes breaches of fiduciary duty, mismanagement of funds, and decisions that result in financial losses.
With a significant amount of business conducted online and through electronic platforms, MGAs are exposed to risks related to data breaches, loss of confidential information, and disruptions in their computer systems. This can lead to significant financial and reputational damages.
This includes exposures from actions such as wrongful termination, discrimination, sexual harassment, and other employment-related issues.
Given that MGAs often handle premiums and are involved in the management of claims, they are at risk of accusations related to mismanagement of these funds or failing to act in the best interest of clients or insurers.
MGAs must adhere to various regulations that govern their activities. Non-compliance can lead to sanctions, fines, or the revocation of licenses.
As MGAs often enter into various contracts with insurers and other third parties, there is a risk of liability arising from any breach of these contracts.
These arise from interactions with external entities and individuals, including bodily injury or property damage claims resulting from business operations.
To start your errors and omissions insurance quote and request a callback from one of our professional liability insurance experts, please fill out the form above and we will get back to you, often within 10 minutes. If you have any questions please reach out to hello@getcertain.ca.
