Aegis MGA and the Underserved Markets

Aegis MGA and the Underserved Markets

Aegis General is a company that specializes in insurance solutions for underserved markets and has been doing so for nearly 40 years. In addition to writing policies for manufactured homes, along with programs for low-value dwellings and non-standard homeowners, they also provide coverage for motorcycles.

Aegis MGA (Managing General Agent) is a specialized insurance agent/broker that, unlike many of the traditional agents/brokers, is vested with underwriting authority from a trusted insurer. Accordingly, MGAs of all types perform a much-needed function, ordinarily handled only by insurers, such as binding coverage, underwriting and pricing, appointing retail agents within a particular area, and helping with the settlement of claims.

Aegis works to provide services to many underserved markets

Using a targeted approach to risk and many of the exposures common to certain insureds, they’re constantly adding to their portfolio’s product and geographic diversity, which further allows them to offer surety bonds, accident and health coverage, municipality and other viable niche lines of insurance.

They understand that the insurance needs of some markets lack a strong presence. This is one of the reasons why they chose habitational and motorcycle programs, which are backed by financial strength and some very solid claims knowledge. Their municipality program is distributed through Allied Public Risk, which is a division of Aegis General and backed by Allied World, a global provider of innovative property, casualty and specialty insurance.

Typically, MGAs are involved with unusual lines of coverage, such as professional liability and surplus lines of insurance, in which specialized expertise is required to underwrite the policies. However, MGAs also write some personal lines, especially in geographically isolated locations where insurers may be reluctant to set up a branch office. The main emphasis is to ensure that the insurance needs of those living in and around these areas are being met.

These are areas where mobile homes and manufactured homes can often be found in numbers. These structures have many associated risks not found in standardized dwellings. Providing agents with the means of insuring these homeowners so that they can live with the knowledge that they are protected in the event of storms, theft, and fires, makes the Aegis MGA the type of agency partner that many agencies look to for providing the services their customers desperately need.