Managing general agents have extensive experience and therefore possess a level of knowledge that the average insurance agent does not have. Here is an explanation of what an MGA is, the benefits of using one, and the information found in a managing general agents list.

What Is an MGA?

An MGA is a highly sought-after type of insurance agent or broker whose loyalty rests with an insurance company rather than with a policy holder. Companies grant these agents authority to perform the following tasks:

  • Underwrite coverages
  • Settle claims
  • Price premiums
  • Bind policies

What Are the Benefits of Using an MGA?

It is much simpler for a company that wants to expand into a new area to find a local MGA already in business than to open a new office and hire staff. Another benefit is that most MGAs are highly specialized in one realm of insurance.

What Information is Contained in an MGA List?

A good list of MGAs contains more than names. It should also contain the following:

  • Complete contact information
  • Size of current company and number of employees
  • Commission 
  • Specializations

If you are looking for a highly qualified agent in a specific region, an MGA list can help you find one. Luckily, these lists are available if you know where to look.

What To Do With MGA List
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