Managing General Agent

To qualify for a Managing General Agent license:

1. No person, firm, association, or corporation shall act as a managing general agent, with respect to risks located in this State for an insurer licensed in this State, unless licensed as a producer in this State.
2. No person, firm, association, or corporation shall act as a managing general agent, representing an insurer domiciled in this State with respect to risks located outside this State, unless licensed as a producer in this State.
3. The commissioner shall require the managing general agent to furnish a bond in the amount of $100,000 or 10% of Gross written premiums, whichever is greater, but not to exceed $500,000 with an insurance company licensed to do business within the State or with an insurance company approved by the commissioner for the protection of the insurer. Each managing general agent shall provide the commissioner with:
   1. Proof of the bond at the time of the initial application for licensure; and
   2. Appropriate documentation at the time of each renewal to show that the bond continues to be in effect or that a new bond has been secured.
4. The commissioner shall require the managing general agent to maintain an errors and omissions policy in the minimum amount of $1,000,000 with an insurance company licensed to do business within the State or an insurance company approved by the commissioner. Each managing general agent shall provide the commissioner with:
   1. Proof of the policy at the time of the initial application for licensure; and
   2. Appropriate documentation at the time of each renewal to show that the policy continues to be in effect or that a new policy has been secured.
5. Refer to Hawaii Revised Statutes, §431:9C-103 for “Required contract provisions”.

A complete application for a Managing General Agent license includes:

1. For Individual applicants:
   1. FORM HPL – one original;
   2. Individual must be a licensed producer in this State. Attach a copy of the individual’s producer license; and
   3. Proof of the bond.
   4. Proof of the Errors and Omissions policy.

   5. Applicable license fees.

      Click here for the FEE SCHEDULE .

      Check payable to DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS.

2. For Business Entity applicants:
   1. FORM BEPL – one original;
   2. Business Entity must be a licensed producer in this State. Attach a copy of the business entity’s producer license; and
   3. Proof of the Bond.
   4. Proof of Errors and Omissions policy.

   5. Applicable license fees.

      Click here for the FEE SCHEDULE .

      Check payable to DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS.

IMPORTANT: All of the items listed above must be submitted together as an application packet. If an item is missing or the application is incomplete, we will reject the application and return it to you.

Appointments: An appointment is not required to be submitted at the time of application, but an appointment must be in place to do business. Submit a Notice of Appointment - FORM APPTMGA

In addition to Form APPT, an MGA appointment must also include "a statement of duties which the managing general agent is expected to perform on behalf of the insurer", as required by HRS §431:9C-107(e).

For more information on Managing General Agent licensing, refer to the Hawaii Revised Statutes:

§431:9-C-101 to §431:9-C-107

Visit the Hawaii State Legislature website at www.capitol.hawaii.gov and click on “Status and Documents” to search and view the Hawaii Revised Statutes

Licensees are reminded to secure a General Excised Tax License, as required under the tax laws for the State of Hawaii. Please contact the Hawaii Department of Taxation at (808) 587-4242 or call Toll Free at 1-800-222-3229, for more information.