A specialized type of "wholesale" producer that unlike "retail" producers,is vested with underwriting authority from an insurer is a(n)
A)exclusive general.
B)direct writer.
C)insurance broker.
D)managing general agent.

Question

Quizplus · Accepted Answer

A managing general agent (MGA) is a specialized type of wholesale producer that is granted underwriting authority from an insurer. They have the ability to bind risks and issue policies on behalf of the insurance company. MGAs typically work with retail producers (agents or brokers) to place business that the insurance company might not otherwise accept.

A Specialized Type of "Wholesale" Producer That Unlike "Retail" Producers,is