SIGNAL Underwriting unveils improved commissions and product portfolio
SIGNAL Underwriting unveils improved commissions and product portfolio | Insurance Business Canada
Insurance News
SIGNAL Underwriting unveils improved commissions and product portfolio
CEO thanks broker partners for “remarkable first couple of years”
Insurance News
By
Mika Pangilinan
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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