Morris, Manning & Martin Forms Legal Practice Group For MGA’s

September 10, 2002

Morris, Manning & Martin, LLP has formed a new practice group to serve the needs of independent Managing General Agents (MGAs).

The new group will provide focused services involving:

* Contracts with insurance carriers and producers
* Termination issues, including disputes over “expirations” and “twisting”
* Regulatory issues, particularly with respect to state insurance departments
* Privacy and security projects and analyses
* Mergers and Acquisitions
* Technology and eCommerce
* Insurer insolvency matters
* Litigation and arbitration

“Because MGAs are in the front line of marketing insurance products, they often bear the brunt of regulatory, as well as litigation, attention,” co-chair Joseph Cregan said. “We feel that our expertise in regulatory matters will be a great benefit to them.”

Ward Bondurant, an experienced mergers and acquisitions partner will handle corporate matters including reorganizations, mergers, and acquisitions. “We see an increasing number of MGAs taking advantage of ‘roll-up’ and strategic partnering opportunities involving regional brokers, reinsurers, banks and traditional insurers,” Bondurant said. “It is important that the independent MGA know the value of its business, as well as available opportunities for mergers, acquisitions and specialized capitalizations.”

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