Acts of managing general agent deemed acts of insurer; insolvency of managing general agent

1. Law
2. Maryland Code
3. Insurance
4. Entities That Act as Insurers
5. Managing General Agents
6. Acts of managing general agent deemed acts of insurer; insolvency of managing general agent

    (a)    The acts of a managing general agent are deemed to be the acts of the insurer for whom the managing general agent is acting.

    (b)    If a managing general agent becomes insolvent, the obligations of the managing general agent with respect to policyholders of an insurer shall be assumed by that insurer.

Download our app to see the most-to-date content.