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- Dictionaryagent general
noun
- 1. the representative of an Australian state or Canadian province in London or another major foreign city.
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Feb 29, 2024 · General agents are insurance agents who sell insurance products to other insurance agents or brokers. The other insurance agents and brokers then sell these products to the people or companies who will be using the insurance.
Feb 23, 2023 · What is an MGA, and how do they operate? A Managing General Agent (MGA) is a licensed insurance agent that an insurance carrier has given the authority to manage the underwriting and administrative functions for a particular line of business.
Jun 30, 2024 · An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a...
Dec 12, 2021 · 1. : one employed to transact generally all legal business entrusted by a principal. 2. : an insurance company agent working within a specified area. Examples of general agent in a Sentence. Recent Examples on the Web Business be damned, Whitney’s still bringing it as a general agent of chaos.
What is an MGA? A Managing General Agent (MGA) is an agency that is contracted to perform various business functions, such as underwriting, binding, policy administration, claims, and distribution, on behalf of (re)insurance companies.
In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".
Definition of agent general noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
