Managing General Agent
An intermediary with underwriting authority from an insurer to bind coverage, price risks, and appoint retail agents in a territory.
MGAs specialize in niche lines — excess, programs, or coastal property. They differ from TPAs because they often assume underwriting risk transfer functions under agreement.
Examples
An MGA binds a coastal homeowners program for a carrier that does not maintain local retail offices.
Common Misconceptions
Retail agents confuse MGA binding authority with guaranteed capacity — treaties can cancel.
Related Terms
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Back to Glossary Claims Pages AcademyThis definition is provided for informational and educational purposes. Insurance terminology may vary by jurisdiction, policy, and context. Consult a licensed professional for guidance specific to your situation.
