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M260

Fundamentals of Managing General Agents & Delegated Authority

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M260

About this course

In this course, you will learn how managing general agents (MGAs) differ from traditional brokers/agents and insurers. You will examine the subtleties of delegated underwriting authority from the perspective of all participants, and learn about the effective establishment, management, and development of an MGA.
People having a meeting in an office.

Topics covered

  • What is a Managing General Agent?
  • Commercial Liability for MGAs
  • Introduction to Delegated Authority
  • Legal and Regulatory Framework
  • Setting Up a Delegated Authority Contract
  • The Contractual Framework
  • Underwriting Management
  • Claims Management
  • Business Support
  • Monitoring and Auditing

Prerequisites

Before registering for this course, you must have completed or be in progress on one of the following:
• B210: Commercial Insurance Essentials, or
• C70: Gateway to Commercial Insurance.

In addition, you will need some general insurance knowledge to benefit from this course. Before registering, we recommend that you complete one of the following:

• two years of experience working as an insurance industry professional (broker, agent, underwriter, analyst), or
• GIE courses C81 and C82, or
• CIP course C11.
Membership

To undertake Insurance Institute courses, you must maintain membership in the Insurance Institute.



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Evaluation

Evaluation for this course is based on the following:

• Tests
• Online discussion
• Assignments

All evaluations are delivered through the course website during the term.
Students in a classroom.