/ 2 minutes of reading

Bernardo Ybarra, partner at Muñoz Arribas Abogados, closes the season of the ASASE podcast with episode 12: “Invisible legal risks for an underwriting agency (and how to avoid them)”.

ASASE, the Association of Spanish Underwriting Agencies, has closed the first season of its podcast with an essential episode for all players in the insurance market. In this end-of-season episode, Bernardo Ybarra, a partner at Muñoz Arribas Abogados and an expert in insurance law and litigation, is interviewed.

During the conversation, Ybarra unpacks the main legal risks and technical errors faced by underwriting agencies, especially in their first years of activity. The episode offers practical guidance to help prevent disputes in an increasingly regulated and competitive environment.

“An MGA cannot scale without a solid legal structure. From the start, it must have clear bylaws, defined roles and a well-thought-out partners’ pact,” says Bernardo.
Among the highlights of the conversation were:

  • The importance of proxy agreements (binders) and the most relevant clauses to protect the operational stability of the MGA.
  • The legal impact of a subscription outside the delegated mandate, one of the most serious errors that can lead to litigation and millions of dollars in compensation.
  • The need for IT systems that automatically limit any unauthorized subscriptions, as an essential day-to-day control tool.
  • The role of MGAs in the relationship with clients: “Although the risk is assumed by the insurer, it is the underwriting agency that is in direct contact with the policyholder and personalizes the insurance solution,” Ibarra recalls.

The episode also touches on sensitive issues such as the duration and early termination of contracts, the protection of the client portfolio and the problems arising from hiring freelance underwriters or those with dual activity as brokers. With a track record of more than 20 years in the industry, Bernardo Ybarra brings a global vision that combines legal knowledge, practical experience and a deep understanding of the insurance business.

Listen to the full episode on Spotify.

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