As a leading drone insurance provider for nearly two decades, we’re delighted to announce that we’ve taken a significant strategic step by joining the Managing General Agents’ Association (MGAA). As an MGA, our membership with the MGAA demonstrates our commitment to the highest professional standards and our position as specialist drone insurance providers within the wider insurance community.
Who are the MGAA?
The MGAA is the UK and Ireland’s representative trade body dedicated specifically to the Managing General Agent (MGA) community (a community of specialised insurance entities that act on behalf of insurance companies). Founded in 2011, the association was established to give MGAs a collective voice and to provide a clearer understanding of their unique role within the insurance distribution chain.
Today, the MGAA represents over 240 members, is governed by a board of elected directors and works closely with regulators, such as the Financial Conduct Authority (FCA), to ensure the interests of MGAs and their clients are central to industry developments.
What Does the MGAA Do?
The MGAA provides many services to its members as part of its vision to see the MGA market thrive. Just some of the benefits of the MGAA include lobbying government and regulatory bodies, providing education through its Programme of Learning & Insights, and networking and industry events.
Why the MGAA Matters for Insurance Brokers
For insurance brokers, MGAs can help place highly specialised risks, effectively becoming the ace up their sleeve. The MGAA makes this process safer and more efficient by thoroughly vetting its members, giving brokers greater confidence when dealing with an MGAA member.
What Joining the MGAA Means to Coverdrone
By joining the MGAA, Coverdrone reinforces its position as a leader in specialist drone insurance. This membership signifies a commitment to market-leading compliance. It provides access to a wealth of resources that will help us continue innovating in the insurance market and adapt to the evolving needs of our customers and the technology they utilise.
