Gallager London named as MGAA preferred provider

The Managing General Agents’ Association (MGAA) has named Gallagher London as a preferred provider of professional indemnity (PI) insurance.

Gallagher London has created a bespoke PI policy wording for the specific risk profiles of the more than 300 managing general agents (MGAs) operating in the UK. Included in the cover is civil liability arising from underwriting authority, an aspect that is often excluded under less specific policies.

The policy also includes cover for financial ombudsman awards and prosecution costs, cyber liability, libel and slander, breach of copyright and data protection.

MGAA members that take out the policy though the scheme can also benefit from tailored coverage for directors’ and officers’ liability, office insurance and cyber risks.

Gallagher London is also funding a discount scheme that will allow new and existing MGAA members a discount equivalent to two months of membership fees in their first year as a Gallagher PI customer.

MGAA general manager Jane Comerford (pictured) said “Gallagher is a founding supplier member of the MGAA and we are delighted that it has developed a bespoke PI wording for our members.”

Gallagher London director of the professional risks practice Ben Waterton said “The MGA landscape is a rapidly evolving and exciting area of the industry – one we are keen to support through our innovative approach. Their distinct and complex needs require expert advice and we have the capability to not only help start-up MGAs but also the more established businesses.”