MGA Agreement definition
Examples of MGA Agreement in a sentence
The MGA Agreement shall provide, to the extent possible, for the payment of a commission to the managing general agent, which provides for equivalent economic benefit as the Ceding Commission provides.
Capitalized terms have the same definitions as are found in the MGA Agreement.
All services related to claims, underwriting and administration with respect to Policies reinsured hereunder shall be provided by National General pursuant to the PL MGA Agreement.
During the term of this Agreement, Manager shall receive (a) a commission equal to 10% of all business written, (b) the amount of commissions payable to producing Agents for all business written and (c) an allocated portion of the Loss Adjustment Expenses paid by the Manager pursuant to the Cut-Through MGA Agreement.
The ratings approach is set forth in Exhibit A to the MGA Agreement.
Under the MGA Agreement, ▇▇▇▇▇▇▇ has authority to write lines of business authorized in Exhibit A to the MGA Agreement.
Subject to Section 2.1 above, this Agreement shall not be subject to termination by any Party except upon the termination or expiration of the PL MGA Agreement, the expiration of all liability on all Policies, and the complete performance by Reinsurer and the Companies of all obligations and duties arising under this Agreement.
All financial statements required to be provided by the Borrower or Guarantor to the Lender shall be prepared in accordance with GAAP consistently applied.
The descriptive article and section headings herein are inserted for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this MGA Agreement.
In the event that there is a dispute between the Royal Insurer Affiliates and RSUI under this MGA Agreement as well as one or more disputes involving any of the Ancillary Agreements, RSUI, URC and the Royal Insurer Affiliates agree to consolidate all such disputes under such agreements in a single arbitration proceeding.