Insurers are increasingly looking for wholesalers and managing general agents to put their brands on carrier products in order to reach a wide retail production network at low cost, one MGA executive contends.
“We are one of the leading ways to saturate the marketplace,” said Euclid Black, president of Black/White Associates in Henderson, Nev.
“If you're a small [insurance] company with $50-to-$100 million in surplus but well-rated, and you want to enter the market, the MGA marketplace is absolutely the way to go,” said Mr. Black, who is also president-elect of the American Association of Managing General Agents, based in King of Prussia, Pa.
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