Managing general agencies (MGAs) are in the news, either in their own right or as targets for acquisition. MGAs have historically been a profitable and high-growth distribution channel, especially for commercial and specialty lines. Vendors are increasingly targeting MGAs in addition to their core carrier bases.
But the definition of MGA is slippery. Though it has an official/regulatory definition, the term “MGA” is often casually used to refer to businesses that fall into a broader category. To add to the confusion, a firm may function as an MGA with one or more carriers and as an agency or broker with other carriers.
One of the most exploitable assets of an IT estate is the information and assets of users; however, identities are often omitted from instantiation in an attack surface. Organizations must stop thinking of identities as only something to control access and start thinking of identities as a top domain asset that is the entre to an attack surface.
We live in a time of amazing changes, both in terms of technology and the economic environment around us. These changes create new opportunities as well as significant threats for insurance carriers, which may well be the operational equivalent of deciding if a glass is half full…or half empty. Opportunity and threats are, in reality, opposite sides of the same coin.