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Utah Insurance

Managing General Agent

UCA 31A-23a-102(6)(a): “Managing general agent” means a person that:

  1. manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office;
  2. acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term;
  3. produces and underwrites an amount of gross direct written premium equal to, or more than 5% of, the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year:
    • with or without the authority;
    • separately or together with an affiliate; and
    • directly or indirectly; and
  4. A. adjusts or pays claims in excess of an amount determined by the commissioner; or
    B. negotiates reinsurance on behalf of the insurer. (b) Notwithstanding Subsection (6)(a), the following persons may not be considered as managing general agent for the purposes of this chapter:

    • an employee of the insurer;
    • a United States manager of the United States branch of an alien insurer;
    • an underwriting manager that, pursuant to contract:
      • manages all the insurance operations of the insurer;
      • is under common control with the insurer;
      • is subject to Chapter 16, Insurance Holding Companies; and
      • is not compensated based on the volume of premiums written; and
    • the attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or inter-insurance exchange under powers of attorney.

Licensing: Pursuant to 31A-23a-601, the Utah Insurance Department licenses both individuals and organizations as Managing General Agents/Agencies. A producer license must be held first before the MGA license will be issued. Residents or non-residents may apply online at SIRCON or NIPR.

*We do not require a bond be submitted with the application.