ME managing general agent bonds.
$1,000 flat.

A managing general agent who underwrites and administers business for an insurer must file a $100,000 bond with the Maine Bureau of Insurance, on the Bureau’s MGA bond form. Ours is $1,000 flat, set by our carrier’s rate book for this bond — and license bonds like this issue instantly.

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Required for a Maine managing general agent filing with the Bureau of Insurance under Title 24-A

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Fixed price, fixed amount — $100,000 bond, $1,000, no quote process

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Runs with your license period — concurrent with the current term and renewals

A-ratedA.M. Best carriersInstantunderwriting process1–3 yrterms available

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How it works

Three steps. One sitting.

License bonds are the simplest thing in surety. Here’s the entire process:

NOW · ONLINE

Apply online

Business details and an effective date. That’s the application — no financials, no credit fields, no follow-up scavenger hunt.

MINUTES, USUALLY

Pay & e-sign

License bonds like this are among the thousands of bond types that issue right after purchase. At most, 1–2 business days.

SAME DAY

File with the Bureau of Insurance

Your executed bond arrives on the Bureau’s MGA bond form, ready to file with your registration. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

A managing general agent (MGA) is a specialized intermediary an insurer authorizes to underwrite, bind, issue, and sometimes administer claims on its behalf — effectively running a book of business as the insurer’s outsourced underwriting arm. Maine’s Bureau of Insurance registers MGAs under Title 24-A and requires a bond standing behind that authority.

The bond is a $100,000 guarantee filed on the Bureau’s MGA bond form, for the benefit of the insurers the MGA represents and the public. It backs the MGA’s faithful performance and proper handling of premiums and funds. The bond runs concurrently with the current license period and any renewals, and may be cancelled only on 30 days’ written notice to the principal and the Superintendent of Insurance.

It is a three-party guarantee, not insurance for you: if the surety pays a claim, you repay the surety. MGA registrations renew on a set schedule (renewals are due June 1), and the bond must stay active the whole time — we track it and notify you 60 and 30 days out.

Title 24-A — Maine Bureau of Insurance (MGA bond form)Maine registers managing general agents through the Bureau of Insurance under Title 24-A, and the Bureau publishes a $100,000 MGA bond form. The bond runs concurrently with the current license period and any renewals and is cancellable only on 30 days’ written notice to the principal and the Superintendent of Insurance. MGA registration renewals are due June 1. Confirm the current amount and form with the Bureau of Insurance before filing.

You need this bond if you are

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Registering as a Maine managing general agent with the Bureau of Insurance

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Renewing an MGA registration by the June 1 deadline with a bond expiring or non-renewing

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An MGA taking on a new Maine carrier appointment that triggers the bond filing

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An out-of-state MGA getting registered to administer Maine business

One application, issued instantly.

These are the actual issuing fields — the application collects no credit information. We issue on the Bureau of Insurance MGA bond form.

Start the application →

FAQ

Common questions.

How much is the Maine managing general agent bond?The premium is $1,000 flat, set by our carrier’s rate book for this bond, the same for every MGA. The $100,000 is set by the Bureau’s bond form, so there is no quote process.

Do I pay the $100,000?No. You pay $1,000. The $100,000 is the surety’s maximum liability if a valid claim is made against the bond — not a deposit, and nobody holds your money.

Which bond form does Maine use?The Maine Bureau of Insurance publishes its own managing general agent bond form. We issue on that form, ready to file with your MGA registration.

Is there a credit check?The application collects no credit information — fixed-amount license bonds like this one don’t need it, and most applications approve instantly. If a check ever runs, it’s a soft pull only and never affects your score.

When does it renew?The bond runs concurrently with your MGA license period and any renewals, and is cancellable only on 30 days’ written notice to you and the Superintendent. MGA renewals are due June 1; we send renewal notices 60 and 30 days out.

Related bonds

Other Maine bonds.

Finish your MGA registration today.

$1,000 flat, no credit review, bond often issued in the same sitting. Free until issued.

Start application

Your price$1,000

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