Brokers must meet challenge of banks and direct market says Defaqto

Defaqto's first Insight Report into the SME Commercial insurance market warns brokers that they need to meet the challenge of Banks and Direct insurers.

Defaqto state that in SME commercial insurance the broker is still King, but they face a major challenge to their dominance of this market from bancassurers and direct writers. Although in the

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MGAs Review of the Year 2025

An MGA chief would like Sir Bob Geldof to teach the industry a thing or two about social responsibility in 2025, and leaders are confident that while the hard market was punishing for a time in 2024, next year the sector is well-positioned to lead innovation and remain agile.

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