The ProRISK Advantage / Frequently Asked Questions:

1. What is a Managing General Underwriter?

A Managing General Underwriter (MGU) is a unique entity that is focused on developing insurance products and services, including wordings, applications and rating systems, structuring an agreement with an insurance company and then managing said product on behalf of that insurer. Unlike a wholesale broker that simply directs business to a number of insurers that offer the same coverage, we act on behalf of only one insurer or one group of insurers on a quota share basis per product we offer.

2. Why is ProRISK structured as a Managing General Underwriter?

Some of the benefits we see as an MGU include the ability to structure our products to meet the needs of the Canadian market. We are local, we have underwritten across the country and we know what is needed by retail brokers and insureds. As an MGU, we can maintain a focus on the products we offer rather than seeing corporate resources diluted into a number of unrelated areas.

When we see a new opportunity that ties in with our specialized focus we can move quickly to develop an appropriate product, approach the insurer(s) we see as being best suited to offer capital for that product and get it to market quickly and efficiently.

3. Why Lloyd's of London?

Lloyd's of London is critical to our operations for a number of reasons. In Lloyd's we have a long term partner one that has a history dating back to 1688. In the intervening 320 years, Lloyd's has developed a reputation for product innovation, financial strength and being a market that understands special insurance risks.

4. Why ProRISK?

ProRISK provides for a true partnership with a compelling opportunity for growth in Canada:

  • Local experts with a proven track record of success;
  • Simplified access to Lloyd's of London the world's largest specialty market;
  • Established Brokerage and Industry customer relationships driving the business;
  • Governance expertise designed to mitigate losses.
  • Contact

    Professional Risk Underwriters Inc.
    1 Yonge Street, Suite 1801
    Toronto, Ontario
    M5E1W7
    Phone: (416) 306-2499

    E-mail

    Rahul Mehta
    (416) 903-2575
    rmehta@professionalrisk.ca

    Adam Briklyn
    (416) 722-1721
    abriklyn@professionalrisk.ca

    Get in Touch with us