Definition:Managing general agent (MGA): Difference between revisions

📋 '''Managing general agent (MGA)''' is a specialized intermediary that operates with underwriting authority granted by one or more insurance carriers. Unlike a traditional broker or agent who simply sells policies, an MGA can bind coverage, set premium rates, appoint sub-agents, and often handle claims — functioning almost as an outsourced underwriting division for the insurer. MGAs typically focus on niche lines of business where their concentrated expertise gives them an edge over generalist carriers.