Managing General Agent

What is a Managing General Agent (MGA)/Managing General Underwriter?

 

Not authorized to sell insurance to an insured, but rather acts as the middleman between the company and the independent agent or agency. An MGA may be given binding authority by an insurer. A broker that has both underwriting and claims authority or reinsurance authority could meet the statutory definition of managing general agent, which triggers additional regulatory compliance obligations.

 

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