SIGNAL Underwriting has made enhancements to its commission structure and announced the introduction of new insurance products.
The news was shared in a product update email, with CEO and class underwriter Alexander Blair-Johns thanking broker partners for the MGA’s “remarkable first couple of years.”
One key announcement is the increase in broker commissions. Starting November 1, SIGNAL will offer a 17.5% commission on five in-house underwritten liability products.
“I’m so happy to announce a few ways we’re returning the kindness,” Blair-Johns said in the email.
The selected products that qualify for SIGNAL’s increased commission rate include healthcare, small-medium enterprises, spas and salons, and the newly introduced media E&O and miscellaneous E&O.
Both the media E&O and miscellaneous E&O products were first rolled out in the summer, according to SIGNAL. They are underwritten in-house and have limits up to $5 million, in addition to optional CGL coverage.
Additionally, SIGNAL has upgraded its existing life sciences product to include in-house underwriting, the use of SIGNAL manuscript wording, and the capacity to offer limits exceeding $10 million, depending on the individual risk.
Blair-Johns founded SIGNAL in 2021, and the firm officially launched the following year without financial ties to any broker or carrier. It became a cover holder with Lloyd’s of London within its first year of operation.
SIGNAL is also a member of the Canadian Association of Managing General Agents (CAMGA) and the Insurance Brokers Association of Ontario (IBAO).
“We know that it’s impossible to be an expert in everything as a commercial broker, and that’s where we can come in, offering not only a customized product but hands-on assistance and guidance,” Blair-Johns told Insurance Business in 2022.
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