Last Updated: June 7, 2017
Managing General Agent Individual License
Wisconsin law defines a managing general agent (MGA) as a person who manages all or part of the insurance business of an insurer or manages a separate division, department or underwriting office; acts as an agent for the insurer; AND with or without the authority, either separately or together with affiliates, directly or indirectly:
- Produces and underwrites in any one quarter or year an amount of gross direct written premium equal to or more than 5% of the policyholder surplus as reported in the last annual statement of the insurer; and
- Adjusts or pays claims in any one quarter or year in excess of 3% of the policyholder surplus as reported in the last annual statement of the insurer, or negotiates reinsurance on behalf of the insurer, or both.
For more information, please refer to
ch. Ins 42, Wis. Adm. Code.
Initial Application Requirements
- Reciprocal MGA license in resident state required to obtain an MGA license in Wisconsin. (nonresident applicants)
- Individual must have an active intermediary license in Wisconsin.
- Apply via
www.nipr.com or through an
NIPR authorized business partner.
- Pay initial license fee of $75.
Renewal Requirements
- Apply via
www.nipr.com or through an
NIPR authorized business partner.
- Pay biennial license renewal fee of either $35 for residents or $70 for nonresidents.
Managing General Agent licenses are not eligible for reinstatement. If your license expires, you must re-apply via
www.nipr.com or through an
NIPR authorized business partner.
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Managing General Agent Firm License
Initial Application Requirements
- Reciprocal MGA Firm license in resident state required to obtain an MGA license in Wisconsin.
- Designated Responsible Licensed Producer (DRLP) must have reciprocal license in resident state.
- DRLP must have an active intermediary license in Wisconsin in order to obtain a Wisconsin MGA license.
- Apply via
www.nipr.com or through an
NIPR authorized business partner.
- Pay initial license fee of $100.
Renewal Requirements due February 15th Every Even-Numbered Year
- Apply via
www.nipr.com or through an
NIPR authorized business partner.
- Pay license renewal fee of either $35 for residents or $70 for nonresidents.
Managing General Agent licenses are not eligible for reinstatement. If your license expires, you must re-apply via
www.nipr.com or through an
NIPR authorized business partner.
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