All Managing General Agents (MGA) must hold a North Dakota insurance producer license and must file a copy of the managing agreement with the North Dakota Insurance Department. If the MGA is acting on behalf of a domestic insurer, for risks located in or outside of the state of North Dakota, the MGA must hold either a resident or non-resident license in North Dakota and must comply with all provisions of N.D.C.C. § 26.1-26.3.
Please also see Bulletin 2003-2, which sets the threshold of claims adjusted or paid at $10,000 (N.D.C.C. § 26.1-26.3-02).
To apply for a business entity insurance producer license:
- Apply through the National Insurance Producer Registry (NIPR).
- A business entity must be registered with the North Dakota Secretary of State.
- Non-residents must have an active insurance producer license in their resident state if their resident state issues such a license.
- Pay the $100 fee.
At least one individual who is affiliated with the business entity must hold a North Dakota license for the lines of authority requested.
In addition to the requirements listed above, you must file a copy of the Managing General Agent Agreement. No additional fees are required for filing the MGA agreement.