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MGA’s must:

  • Hold a separate, active Property and Casualty Producer license in Idaho.
  • Have and maintain a SURETY bond in the amount of $5,000 or 10% of the total funds handled in the preceding year, whichever is greater.
  • Provide proof of an Errors and Omissions policy with a limit of $250,000 or 25% of the gross amount of direct written premiums received by an insurer for the previous year that are attributable to you as their MGA, whichever is greater.
  • Provide a list of the names and addresses of all insurers doing business in the State of Idaho or Idaho domestic insurers with which you have a contract to act as their MGA.
  • Provide a verified statement on the DOI form that these MGA contracts contain provisions required by §41-1504 of Idaho Code.

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