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Managing General Agent
> Renewal/Reinstatement Information
The licensing period for MGA’s is from July 1- June 30th. All MGA licenses expire at midnight on June 30th of every year.
MGA renewals must be done by paper. You can download a form here:
MGA Renewal Form
If renewing prior on or prior to June 30th, the fee is $80. If renewing on or after July 1st, the fee is $160.
A courtesy reminder is sent approximately six weeks prior to expiration of the license.
You do not need this reminder for renewal. You may apply for renewal up to six weeks prior to the expiration of your license.
The Department considers the renewal of your license to be your responsibility, regardless of whether you receive notice or not.
Additional information regarding renewals:
You must report the previous year's amount of claims handled or premiums collected for Idaho. This is for purposes of insuring that the bond in place is adequate per Title 41, Idaho Code, Section § 41-1503 (3). The MGA bond amount should reflect a minimum of 10% of combined claims handled/premiums collected over the previous calendar year. Minimum bond is $5,000. No maximum has been set. An adjustment can be made at time of renewal by sending a bond rider or new bond (Department must have the original bond/rider.)
You must report any new agreements with authorized insurers pursuant to Idaho Code §41-1505, a list of new agreements may be reported in the following format:
Name of authorized insurer
Date of agreement
the agreement is in compliance with the provisions in Title 41, Chapter 1.
A copy of the agreement is not required, unless specifically requested by the Department.
If you have had a
change of officers
, please send an updated list that includes name and title only.
Please contact the Department, 208-334-4250, and ask for Producer Licensing if you need to make special arrangements.
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