MGA renews MTC binding authority with increased £10m media liability

Managing general agent Nirvana has renewed its media, technology and cyber binder.

The renewal, which came into effect from 1 June 2024, includes an increased £10m media liability line and expanded authority in technology and cyber lines, with new coverage for the financial software industry.

The MGA also added Lloyd’s syndicates SCOR and Argenta to its panel, increasing the total number of capacity panellists to seven.

Rob Jones, executive chairman and head of media, tech and cyber, said: “This is a great result for our portfolio, which is now entering its eight year.

“We are particularly excited about the continued support we receive from our excellent capacity partners, as well as the two new Lloyd’s market relationships we are adding, which reflects our strong performance over the years as well as supporting our exciting plans for continued growth into differentiated, niche lines into 2025.

“The renewal is the best possible outcome for the business as it facilitates our continued growth strategy into our leading media E&O product, as well as serving our plans to write more micro/SME media accounts.”