Managing General Agency
(MGA) Agreement

Summary

This Managing General Agency (MGA) Agreement may be used by insurers who wish to contract with Managing General Agents or Agencies in to promote or operate an insurer's line of business in a new or otherwise particularly challenging territory. This template includes practical guidance and drafting notes. It is drafted with the considerations and protections in mind necessary to ensure that both the MGA and insurer are aware of all appropriate considerations necessary for the program which the MGA will operate. It insulates both sides against any misrepresentations the other may have made in the precontract process and clarifies the delegation of responsibilities consistent with statutory and regulatory requirements. For a full listing of content covering the insurance regulatory landscape, see Insurance Regulatory Compliance Resource Kit. For more information on due diligence for managing general agent selection, see Managing General Agent or Program Administrator Selection Due Diligence Checklist. For more on international reinsurance, see Insurance and Reinsurance in International Jurisdictions.