MGAA Model Terms of Business Agreements [ToBA]
The MGAA has been working with our Legal, Regulatory and Compliance committee, Lawyers and Compliance consultant to produce two market recognised ToBA’s.
These MGA specific ToBA’s are particularly designed for MGAs to use with their producing brokers.
If risks are emanating from an extended distribution chain then further review of the ToBA would need to be undertaken.
These two ToBA’s are for Risk Transfer and Non-Risk Transfer only.
The MGAA will be looking at ToBA’s for EU risks as well as an extended distribution chain.