MANAGING GENERAL AGENT APPOINTMENT - AGENCY
** Effective July 1, 2018, the Managing General Agent (MGA) License will no longer be available. Those individuals wanting to be a MGA must get a MGA appointment by an insurer under a General Lines (P&C), Life, Health or Limited Surety (Bail Bond) agent license.**
TYPE AND CLASS:
00-60 Managing General Agent Appointment (Agency)
Common Use(s) of License:
Florida Statutes 626.015 defines a "MANAGING GENERAL AGENT" means any agency/firm that manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office, and acting as an agent for that insurer, whether known as a managing general agent, manager, or other similar term, who, with or without authority, separately or together with affiliates, produces directly or indirectly, or underwrites an amount of gross direct written premium equal to or more than 5 percent of the policyholder surplus as reported in the last annual statement of the insurer in any single quarter or year and also does one or more of the following:
(1) Adjusts or pays claim
(2) Negotiates insurance on behalf of the insurer
STEPS TO OBTAIN A 00-60 MANAGING GENERAL AGENT - AGENCY:
Step 1 - You must hold a Florida Insurance Agency License:
- Please view the License Qualifications' page for more information on the steps to obtain a 21-05 Insurance Agency License.
Step 2 - Obtain Appointment:
- Contact the insurance carrier (insurer) who will verify the insurer's statutory prerequisites to appoint a MGA-Agency and who will after confirmation submit a 00-60 Managing General Agent appointment in eAppoint.
Special Note:
- The following persons shall not be considered Managing General Agents:
- An employee of the insurer.
- A United States manager of the United States branch of an alien insurer.
- An underwriting manager managing all the insurance operations of the insurer pursuant to a contract, who is under the common control of the insurer subject to regulation under ss. 628.801-628.803, and whose compensation is not based on the volume of premiums written.
- Administrators as defined by s. 626.88.
- The attorney in fact authorized by and acting for the subscribers of a reciprocal insurer under powers of attorney.
