MLchartDataset catalogue

Managing general underwriter (MGU)

Term · Insurance and risk management · MLC-T-INS-003689

An authorized agent of an insurer that has the authority to perform underwriting functions, bind coverage, and issue policies. A managing general underwriter (MGU) operates with a higher level of autonomy than a standard agent, handling tasks that are normally performed by the insurance company itself, such as setting rates and settling claims. The term is often used interchangeably with managing general agent (MGA), though MGU can emphasize the underwriting authority.

Table 1. Record
IdentifierMLC-T-INS-003689
FieldInsurance and risk management
AbbreviationMGU
Record as JSON 
{
  "id": "MLC-T-INS-003689",
  "term": "Managing general underwriter (MGU)",
  "field": "Insurance and risk management",
  "definition": "An authorized agent of an insurer that has the authority to perform underwriting functions, bind coverage, and issue policies. A managing general underwriter (MGU) operates with a higher level of autonomy than a standard agent, handling tasks that are normally performed by the insurance company itself, such as setting rates and settling claims. The term is often used interchangeably with managing general agent (MGA), though MGU can emphasize the underwriting authority.",
  "abbreviation": "MGU",
  "url": "https://mlchart.com/terminology/insurance/managing-general-underwriter-mgu/"
}

Record 2,081 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.