Managing General Agent — Insurance Claims Definition
Industry
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 Mistakes
Retail agents confuse MGA binding authority with guaranteed capacity — treaties can cancel.
