You’re a Managing General Agent. An essential bridge between insurers and brokers: underwriting, advising, supporting. But with this responsibility comes the risk of human error – and scrutiny. If your service comes under the microscope, do you have the protection you need against outside claims? From a risk partner you can trust? From the moment we sit down with you, we’re driven by one purpose: to craft an insurance strategy that protects you from vast, often unpredictable challenges. Welcome to Lockton.

Managing General Agents insurance

Tailored protection when you need it most.

Specialist risk advice when it matters

You’re a Managing General Agent. An essential bridge between insurers and brokers: underwriting, advising, supporting. You steer complex risks with confidence. But with this responsibility comes the risk of human error – and scrutiny.

If your service comes under the microscope, do you have the protection you need? From a risk partner you can trust?

From the moment we sit down with you, we’re driven by one purpose: to craft an insurance strategy that protects you from vast, often unpredictable challenges. So you can focus on what you do best.

Think Professional Indemnity insurance that actually drives the outcomes you need. We bring:

  • A genuine passion for your business
  • A deep understanding of your challenges
  • Total transparency
  • An empowered team of specialists, on your side
  • People who understand your day-to-day and are committed to your success
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Protecting your ambitions

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24/7 support

Specialists who understand your business inside out. People who go above and beyond because they believe in what you do. Support that's locally based and delivered at pace. That’s Lockton.


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Risk advice

You make tough decisions daily. But what about the repercussions? From underwriting risks to regulatory, operational and beyond, we design protection that helps you emerge unscathed.


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Future-proofing

Welcome to problem-solving that gets to the heart of your operation. So you can forge ahead without worrying about the consequences of your decisions.


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Client-first solutions

Our approach works because we're completely independent. No shareholders to please, no investors to satisfy. Just decisions made purely in your best interest.


Your risks aren’t standard. Neither are we.

When you have partners on your side who understand your needs, you feel the difference. Specialist insights. Better rates. Truly tailored solutions – and cover that makes a difference.

  • Policy wordings designed for you

  • Top-rated insurer backing

  • Exclusive access that others can't offer

  • Lloyd's market connections

  • £15,847,780 annual premium for regulated businesses

  • Competitive rates

  • Dedicated claims teams who know your sector

  • 25+ years in your industry, BIBA affiliated


Our promise to you

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Dedicated account managers

Specialists who focus entirely on your world. Day-to-day support and tailored advice from offices across the UK, with genuine insight to your position in the market and what it means for your business.

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Policy wordings that work for you

Professional Indemnity cover designed specifically for your business and how it operates. Protection that fits your reality – not a one-size-fits-all approach that leaves gaps where you’re most vulnerable.

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Claims support when it counts

A dedicated team of advocates, on your side and guiding you through every step. Experience and expertise that helps your business navigate any claim, however challenging.

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Access that others can't offer

Exclusive connections. The ability to reach into the wider market when your risks need something different. Specialist relationships that open doors and deliver solutions.


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Your questions explained

Why do MGAs need Professional Indemnity insurance? Is it mandatory?

MGAs act on behalf of insurers, making significant decisions such as setting prices, approving policies and handling claims. If you make a mistake, such as providing the wrong coverage or omitting a key detail, it can cost your clients or insurers a significant amount of money. Professional Indemnity insurance protects you by covering the cost of legal claims if something goes wrong.

It’s not a legal must-have in every case. But in reality, most MGAs can’t operate without it. Insurers and brokers typically require it before granting any authority. So while it’s not always mandatory by law, it’s essential in practice.

Our PI cover for MGAs goes beyond the basics. It’s built on an exclusive wording, backed by A-rated insurers, giving you broad and reliable protection.

Key features include:

  • Broad civil liability cover – protecting you against a wide range of claims, without restrictive warranties or conditions.

  • Innocent non-disclosure protection – so you’re covered even if you unintentionally leave something out.

  • Ombudsman awards – we cover compensation payments that may be awarded against you.

  • Regulatory defence costs – including legal fees if the FCA or other regulators investigate you.

In short, it’s Professional Indemnity cover made for MGAs—comprehensive, flexible, and ready for the real world.

MGAs face several key risks, including acting outside binding authority, errors in claims handling, cyber breaches, conflicts of interest, and weak financial controls. Each of these can lead to serious financial and reputational damage if not effectively managed. Read our article five common claim trends for MGAs – and how to mitigate them.

With the right broker, arranging PI cover’s straightforward. Insurers will ask questions about how your business operates to make sure you meet their criteria. They’ll want reassurance that your processes are professionally managed, your team is trained, and that you have an appropriate ratio of clients to staff. A good broker will guide you through the process and help present your business in the best light.

If you suspect a claim might arise - even if nothing has been filed yet - it’s important to notify your broker or insurer straight away. Acting early helps protect your position and ensures the strongest possible response. We’ve built one of the largest in-house claims teams in the professional indemnity market, with over 40 experienced lawyers and senior claims specialists ready to support you. We’ll guide you through the notification process, keep you informed throughout, and strive for a swift and fair resolution wherever possible.

Professional Indemnity is just one part of a strong risk management strategy. We also recommend:

  • Directors’ and officers’ insurance (D&O):

    Protects directors and senior staff against personal liability for legal costs, settlements, or regulatory actions arising from decisions made in their professional role.

  • Cyber insurance:

    Covers you if your systems are breached, data is stolen, or a cyberattack or ransomware disrupts operations. It can help with recovery costs, legal fees, and regulatory fines following a security incident.

Your broker can help tailor a package that fits your risk profile.

Let’s talk

A quick call could make all the difference.

Talk to our team
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