Code of conduct of MGA

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....2) Fiduciary Duty: An MGA shall owe its primary fiduciary duty to the foreign insurer. In fulfilling this duty, the MGA shall simultaneously ensure a secondary duty of fairness and transparency to the policyholder. (3) Due Care and Diligence: An MGA shall act with appropriate skill, care, and diligence in the exercise of its delegated authority, particularly in underwriting and claims man....

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.... the foreign insurer and any specific interest it holds in the risk being insured. (2) Truthful Advertising: All promotional materials and communications shall be - (a) Fair, clear, and unambiguous. (b) Free from misleading statements that exploit a client's lack of insurance experience. 4. Market Conduct and Anti-Mis-selling - (1) Product Suitability: An....