Having a trusted managing general agent or MGA can be of benefit when working with cargo insurance. Cargo insurance MGAs not only know their market but they can have special knowledge of the policies they underwrite. Here are a few reasons you may want to work with an MGA in your area.
What is an MGA
A MGA is an insurance agent or broker that has been given the authority by an insurer or agency to perform certain tasks while working outside a branch office. In most cases they have the ability to underwrite policies, price plans, appoint retail agents, binding coverage, and settling claims.
How They Can Help You
In most cases a MGA may have a specialized field such as liability, or professional lines of insurance where specific expertise may be required. This can benefit someone looking for insurance as MGA may work in areas where there are no branch offices to provide that service.
Working with cargo insurance MGAs on your policy can help you in a few ways. Not only can they have specialized knowledge of your plan type but they have the ability to underwrite policies and appoint a retail agent to work with you. Working with an MGA can be a great way to have a knowledgeable professional work on your plan without having to travel a long way to reach a branch office.