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Arizona
Managing General Agent Bond

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Coverage Amount: $100,000 - $500,000
Term Length: 1 year
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Arizona Managing General Agent Bond Guide

If you want to enter a contract with an insurer as a managing general agent in Arizona, you’ll need to file a minimum $100,000 surety bond. 

Bond Overview

  • Purpose: To protect insurers and clients from financial harm 
  • Who Needs It: All managing general agents (MGAs) licensed in Arizona
  • Required By: The insurer contracting with MGAs
  • Required Coverage: Equal to 10% of the prior year’s annual written premium 
  • Premium Rate: Credit-based, typically 1–10% of the bond amount

Read on to learn all about how this bond works and get your free quote. 

What Is an Arizona Managing General Agent Bond?

Per 2016 Arizona Revised Statutes Title 20 § 20-311.02, any entity working as a managing general agent (MGA) for an insurance carrier must hold a surety bond. This promotes ethical and compliant business practices. 

MGAs manage, distribute and underwrite insurance policies on behalf of insurers. The surety bond protects the state, insurance providers and consumers from harm if an agent breaks Arizona laws and Department of Insurance regulations. 

What MGA Bond Amount Do I Need?

Your bond amount will be calculated as 10% of the total annual written premium nationwide produced for an insurer in the prior calendar year with a $100,000 minimum and a $500,000 maximum.

How Much Do Managing General Agent Bonds Cost?

Arizona managing general agent bond premiums cost 1–10% of the total bond coverage. Rates vary based on personal credit score and other financial qualifications. 

For example, you could pay just $1,000–$1,500 for a $100,000 bond with excellent credit. Apply now to get your free quote! 

Bond Type
$100,000-$500,000Managing General Agent BondAmount of surety bond shall be ten per cent of managing general agent's total annual written premium nationwide produced by managing general agent for insurer in prior calendar year

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

How Does an Arizona MGA Bond Work? 

An Arizona MGA bond creates a legal contract and financial guarantee between these three parties: 

  1. Principal: The managing agent filing the bond
  2. Obligee: The insurer requiring the bond
  3. Surety: The provider issuing the bond

As the principal, you are responsible for upholding the bond terms and avoiding bond claims. 

How Do I Get an MGA Bond? 

SuretyBonds.com offers the fastest and easiest way to get your Arizona managing general agent bond. Just follow these simple steps: 

  1. Submit an online quote request
  2. Receive your free quote
  3. Complete the purchase online 
  4. Submit the bond to the obligee

If you have any questions, our friendly surety experts are here to help Mon–Fri. Just call 1 (800) 308-4358 or email [email protected]. 

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