Managing General Agent governance requires fiduciary loyalty, policyholder protection, conflict controls, and clear insurer disclosure. Managing General Agents must act with integrity, skill, care, and fiduciary loyalty to the foreign insurer while protecting policyholder interests when exercising delegated authority. They may use only insurer-approved advertising material, must maintain a Board-approved conflict management policy reviewed annually, and must disclose their intermediary status and prominently identify the foreign insurer(s) in policy documents.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Managing General Agent governance requires fiduciary loyalty, policyholder protection, conflict controls, and clear insurer disclosure.
Managing General Agents must act with integrity, skill, care, and fiduciary loyalty to the foreign insurer while protecting policyholder interests when exercising delegated authority. They may use only insurer-approved advertising material, must maintain a Board-approved conflict management policy reviewed annually, and must disclose their intermediary status and prominently identify the foreign insurer(s) in policy documents.
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