Code of conduct for managing general agents emphasizes fiduciary duty, transparent disclosures, product suitability, and audit-ready compliance.

Code of conduct for a Managing General Agent requires integrity, professionalism, due care and diligence, primary fiduciary duty to the foreign insurer, and fairness and transparency to policyholders. The MGA must maintain a Board-approved conflict management policy, segregate group activities, make required disclosures, ensure truthful advertising, and prevent mis-selling by matching products to client needs. It must also assign day-to-day responsibility to a fit and proper Principal Officer or Branch Head, retain records under a Board-approved policy, and facilitate audits by the foreign insurer.

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