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Managing General Agents Information

Under Louisiana law (La. R.S. 22:1622 D (1)) a Managing General Agent (MGA) means any individual or business entity who manages all or part of the insurance business of an insurer and that also does BOTH of the following;

  1. Under Louisiana law (La. R.S. 22:1622 D (1)) a Managing General Agent (MGA) means any individual or business entity who manages all or part of the insurance business of an insurer and that also does BOTH of the following;
  2. Either adjusts or pays claims in excess of an amount determined by the commissioner; or (b) negotiates reinsurance on behalf of the insurer.

Because of the limited statutory definition of managing general agent, many of those individuals or business entities which are described as a managing general agent with the insurance industry are not required to be registered as a managing general agent under Louisiana law.

In order to become registered as an MGA, a person must be licensed as an insurance producer for both lines of property and casualty, and complete and submit the Application for Registration as a Managing General Agent along with the required fee of $300.00

Once an individual or business entity is registered as an MGA every insurer for which the licensee acts as an MGA must appoint the licensee as an MGA within thirty days of the execution of the contract. The MGA must first be appointed as a producer with an insurer before being appointed as an MGA for that insurer. The insurer must submit an Appointment of Managing General Agent form along with the required fee of $300.00

Registration and appointment of an MGA expires each year on May 1. An MGA must renew registration and an insurer must renew the appointment as an MGA prior to that date by filing the proper form and fees. Renewal forms are mailed to all registered MGAs by March 1 of each year.

Application for Registration as a Managing General Agent

Managing General Agent Appointment and Appointment Cancellation