In Arizona an insurance managing general agent must provide an Arizona managing general agent bond and be approved by the Arizona Department of Insurance. Arizona statute defines a managing general agent as an individual or business entity utilized by an insurer that produces and underwrites an amount of gross premium that is at least five percent of the insurer’s policyholder surplus reported on the insurer’s last quarterly or annual statement, and that either adjusts or pays claims or negotiates reinsurance on behalf of the insurer. The Arizona bond of a managing general agent is written on form “L-106” and serves as a “protection for insureds or insurers whose monies the managing general agent handles”. The nation’s surety leader, Surety One, Inc., is a specialist in the bonding needs of the financial services sector. We will issue these surety bonds for ALL experienced MGA applicants in every state that requires bonding of managing general agencies. We also offer superlative fidelity bond coverages to protect against losses due to employee dishonesty. Visit the surety leader at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com, for an Arizona bond of a managing general agent application or information about any bond product.
