Supervisory inspection powers allow access to MGA records, premises and related information without prior notice. The Competent Authority may inspect the financial statements, relevant documents and premises of a Managing General Agent at any time without prior notice. It may also call for information from the MGA or an applicant, but only insofar as it relates to activities undertaken as an MGA. The provision establishes a supervisory inspection and information-gathering power focused on the regulated MGA function.
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.
Supervisory inspection powers allow access to MGA records, premises and related information without prior notice.
The Competent Authority may inspect the financial statements, relevant documents and premises of a Managing General Agent at any time without prior notice. It may also call for information from the MGA or an applicant, but only insofar as it relates to activities undertaken as an MGA. The provision establishes a supervisory inspection and information-gathering power focused on the regulated MGA function.
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