Asked in Insurance
What is a general insurance agency?
Asked in Insurance, Life Insurance, Medical Insurance
Is BGA a Broker General Agent in insurance?
In the Life Insurance World, BGA generally refers to "Brokerage General Agency" A brokerage general agency establishes and manages contracts with the life insurance companies. The agency then contracts with individual agents who go through the agency for access to the life insurance carrier's product. Many insurance carriers will not establish direct contracts with individual brokers and therefore require that individual agents work through a Brokerage General Agency. By aggregating the production of the producers in its agency, the brokerage general agency can then negotiate a higher pay out for its agents. Popular carriers that work in the brokerage market include: John Hancock Genworth ING Sun Life An example of a brokerage general agency would be, First Heartland Corporation http://www.joinfhc.com/bga.cfm The individual agent is generall called the "broker" or the "agent."
Asked in Commercial Insurance
What is applied general agency?
Applied General Agency is an independent insurance agency that offers a range of insurance products and services to individuals and employer groups. The agency provides auto, home, boat and personal property insurance in addition to traditional life, health, dental and long-term care insurance. Applied General Agency also offers coverage for apartments, commercial buildings, rental property, business interruption, professional liability, commercial automobiles and equipment, workers compensation, and officers and directors liability. It additionally provides annuities, retirement planning products and savings bonds. Applied General Agency employs several agents and is located in Anaheim, California.
Asked in Repossession, Insurance, Commercial Insurance
How i you get a bond for insurance agency?
Asked in Insurance
What are some services offered by Keystone Insurance Agency?
What is a general agency?
A general agency is usually an agency that allows other agencies to write business through them for specialty kinds of insurance business. A general agency may offer unusual types of insurance that an Independent Agency may need once in a while and needs the expertise and access to certain companies or products that they would not normally need. I have used general agencies to write horse mortality insurance, insurance for county and city governments packages, certain farming insurance packages, and other things that I need help in experts and company access. I would not write enough of these type of business to learn everything about these businesses needs and I would not have enough of this business to obtain a contract with companies that put together these special packages to meet the clients needs.