Managing General Agent regulation tightens registration, fiduciary segregation, underwriting limits and disclosure duties for IFSC operations. Regulates the registration, eligibility, governance and operational framework for Managing General Agents (MGAs) in IFSCs. An MGA may act only under a Binding Authority Agreement with a foreign insurer and is limited to delegated solicitation, underwriting, claims processing and authorised claims settlement, subject to registration, financial strength, fit and proper standards, fiduciary segregation of funds, professional indemnity, conduct obligations and ongoing disclosure, audit and compliance requirements.