Industry News

Reassurance and Stability: NBS Underwriting’s Commitment to Brokers

NBS Underwriting

18 March 2024

In response to a recent article in the insurance press concerning the challenges faced by MGAs, we at NBS wish to directly address these concerns. We want to affirm our strong position within the market.

It was brought to light that many brokers within the UKGI community have concerns regarding the durability and stability of capacity arrangements. We want to alleviate these worries by assuring our brokers that NBS maintains excellent relationships with A-rated insurers. We are in a strong position as a member of Accelerant, which gives us a rolling five-year capacity deal. In addition to this, we manage capacity for prominent insurers such as AXA Insurance, HCC Tokio Marine, and Allied World Assurance Company. We also have an excellent relationship with legal expenses insurer ARAG.

Our insurer partners commend our underwriting philosophy and discipline. Our proactive approach has put us in a position of strength. This has resulted in a continuous improvement in our loss ratio, surpassing insurer targets across all products. This allows us to offer stable A-rated capacity, setting us apart from other MGAs facing capacity challenges.

We recognise brokers’ frustration with annual rekeying due to shifting arrangements, which in turn affects the underwriting approach, ratings, and acceptance. Our long-term capacity agreements mean brokers can rely on us for genuine renewals, and our consistent new business approach gives brokers a clear expectation before they input information.

Steve Cowman, Managing Director, commented, “NBS stands as a pillar of dependability for brokers. Our consistent performance, marked by significant growth in quotes and GWP over the last three years, underscores our commitment to excellence. We’re focused on delivering superior service and making brokers’ lives easy. At NBS, we’re invested in building long-term relationships that guarantee consistent underwriting, efficiency and trust—fundamental to a thriving Broker-MGA partnership. Our industry recognition with multiple MGA awards is also a testament to our dedication.

If you have any concerns or would like to discuss how we can support your brokerage further, please do not hesitate to get in touch.

To read the full article visit Insurance Times > 

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