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To successfully renew a Managing General Agent, all of the below must be provided. Once the application and materials are approved, a MGA license will be mailed to the MGA.
The application must be tabbed to correspond with its number in the below requirements.
Tab 1. Completed MGA application, each question must be completed in full. Application fee of $100.
Tab 2. Copy of the Errors and Omissions policy (pursuant to IC 27-1-33-6)
Tab 3. Copy of the Fidelity Bond (pursuant to IC 27-1-33-6)
Tab 4. Annual financial compilation prepared by an independent certified accountant (pursuant to 760 IAC 1-52-6)
Tab 5. Managing General Agent contract per IC 27-1-33-7 and Contract Compliance Checklist. If there have been no changes to the existing agreement(s) or new contracts entered into please provide a signed statement stating contract(s) previously filed is still in effect.
Tab 6. A listing of the current officers and directors. Biographical affidavits must be submitted for each elected officer, director, or partner of the applicant. The affidavits must be originally signed and notarized. If there have been no changes to officers and directors, no affidavits are required.
Tab 7. Proof of licensure as Indiana producer per IC 27-1-15.5
Tab 8. Gross Direct Written Premium
Please submit the application documents to:
Indiana Department of Insurance
311 West Washington Street, Suite 300
Indianapolis, Indiana 46204-2787