At Browne Jacobson we have in-depth knowledge and experience of the insurance intermediary sector. We combine that knowledge and experience with our leading full-service commercial practice to provide a seamless, joined-up service to our Managing General Agent clients.
We understand the regulatory considerations that apply to everything you do as an MGA, from your senior managers’ employment contracts to your binders, TOBAs and other distribution documents.
Drawing from one of the most highly-respected Insurance practices in the UK, we have significant experience advising on the contractual arrangements that are essential to the distribution of regulated products, including binders, insurer TOBAs, broker and customer TOBAs, TPA agreements and agreements with software providers.
We’re particularly well-known for our work and high volume of activity in the insurance intermediary M&A space. We have advised on dozens of intermediary acquisitions and disposals in the past few years, ranging from large, multi-party deals to small book purchases. We have particular expertise in compliance diligence and change of control issues.
Most importantly, as associate members of the Managing General Agents Association, we work closely with a large number of MGAs and stay on top of the latest developments. This has established our strong reputation as a trusted advisor to clients ranging from large international MGAs to smaller businesses and start-ups, some of whom instruct us as their remote ‘in house’ counsel through our innovative instant in-house product.
Advising insurers in circumstances where dishonesty is suspected on the application of the dishonesty exclusion.
Providing claim defence and coverage advice to MGAs and their capacity providers.
Conducting a claims audit on behalf of a capacity provider to report on an MGA’s compliance with its agency agreement and the general management of its claims function.
Considering the scope of an insuring clause to determine whether the policy should respond.
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"Specialised knowledge in niche field of work."
"An extremely client focused and committed team with deep knowledge of its clients."
"The lawyers provide professional and timely advice on all queries with excellent understanding of insurance."
With the fast pace of legal and regulatory changes, Browne Jacobson is launching its ‘In-house for intermediaries’ service for brokers and MGAs.
Ahead of COP 26 in November, Browne Jacobson LLP is producing a series of articles to help insurance market – and other financial services – firms manage the compliance risks they face in relation to climate change with this article addressing issues around transition risks.
The forced closure of many businesses as a result of the Coronavirus pandemic has had a huge impact on the nation’s Gross Domestic Product (GDP). Recent reports from the Office for National Statistics state that the economy was 25% smaller in April than it was in February this year.
Welcome to our review of 2019 as we look ahead to what is on the horizon for the insurance sector in 2020.
Contingent loss is relevant to limitation; specifically, the date at which a claimant’s cause of action accrues for the purposes of a claim in the tort of negligence (as many claims against professional advisers are framed).
The latest update covering delegated authority, insurance product development, the senior insurance managers regime, data protection, operational control frameworks, Lloyds market, and horizon scanning.
Lloyd’s has announced changes to its rules on delegated authority (DA) business, aiming to embrace technology and a more risk-based approach.
Last month the FCA published the FCA Enforcement Annual Performance Report for 2018/19.
The UK Financial Conduct Authority (FCA) has published the final report (PDF) on its market study of the London wholesale insurance broking market.
