Law Change Removes Managing General Agency License Requirement
A law change adopted in the 2018 legislative session and affecting managing general agents took effect July 1, 2018. With this law change, the Florida Department of Financial Services will no longer issue managing general agents’ licenses. However, individuals and firms currently holding licenses will be allowed to keep them.
Going forward, individuals acting as managing general agents will need to obtain MGA appointments under their general lines, life, health or limited surety agent’s licenses. Firms acting as managing general agents will need to obtain an MGA appointment under an insurance agency license.