A Managing General Agent (MGA) is an agency that is contracted to perform various business functions, such as underwriting, binding, policy administration, claims, and distribution, on behalf of (re)insurance companies. Some MGAs specialize in a particular type of insurance or risk, for example: property, cyber, aviation, or construction.

A managing general agent (MGA) is a specialized type of insurance agent/broker that, unlike traditional agents/brokers, is vested with underwriting authority from an insurer.

2023年2月23日 · Managing General Agents (MGAs) play a critical role in the insurance industry, providing valuable services such as underwriting, policy issuance, and claims handling. They offer insurance carriers and retail agents benefits, including …

2024年2月16日 · A managing general agent or MGA is a specialized wholesale broker that insurance carriers authorize to underwrite, rate, bind, and service policies on their behalf. MGAs provide valuable access to niche markets and specialized capabilities.

2024年2月15日 · Managing general agents (MGAs) may partner with FMOs, IMOs, or NMOs, though typically as a downline of those top-of-hierarchy organizations. They also have their own downline agents, who they help with their businesses. MGAs earn more commission than a general agent, but less than an FMO/IMO/NMO.

2024年12月17日 · MGA stands for managing general agent, an independent entity with specialized expertise authorized by insurance carriers to underwrite and manage insurance policies on their behalf. Essentially, MGAs serve as a liaison between carriers and agents, or directly with policyholders.

2021年7月8日 · What Is a Brokerage General Agent? A brokerage general agent is an independent firm or contractor working for an insurance company. A brokerage general agent's main role is to sell one or more...

2024年11月6日 · General agents are insurance professionals who sell insurance products to other insurance agents or brokers. These agents and brokers, in turn, sell the products to individuals or companies that will use the insurance.

In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".

2024年7月2日 · A managing general agent (MGA) is a type of insurance agent who has the authority to underwrite insurance policies. Underwriting means an MGA can assess a customer's risk and offer them insurance. Traditional insurance agents sell insurance policies to customers.