What is an MGA? As an MGA, how is CRES different from a broker?

An MGA is a Managing General Agent, meaning a specialized type of insurance agent/broker that, unlike traditional agents/brokers, is vested with underwriting authority from an insurer. Accordingly, MGAs perform certain functions ordinarily handled only by insurers, such as binding coverage, underwriting and pricing, and appointing retail agents.

CRES is a specialist in the risks that real estate firms, brokers, and agents face daily.  When you insure with CRES, you work directly with a company that has more than 2 decades of protecting professionals like you from the very specific potential risks you face daily.  We review and approve your application, and we are here to help you prevent claims DAILY with our Legal Hotline.

This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.

Originally Published January 5, 2017

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