Agent Responsibility. MGA shall bear sole responsibility to oversee the placement of business through Agents. With respect to the Policies or this Agreement, MGA shall hold the Company harmless and reimburse the Company for any and all fines and expenses levied against or incurred by the Company as a result of MGA accepting business from an unlicensed Agent, or the failure of the Company, MGA, or any Brokering Agent to comply with all applicable laws and regulations regarding the exchange of business between the Company and Brokering Agents, unless such costs and expenses result solely from the Company’s failure to take legally required or reasonably necessary specific actions recommended to the Company by MGA.
Appears in 3 contracts
Sources: Managing General Agency Agreement (Exzeo Group, Inc.), Managing General Agency Agreement (Exzeo Group, Inc.), Managing General Agency Agreement (Exzeo Group, Inc.)
Agent Responsibility. MGA shall bear sole responsibility to oversee the placement of business through Agents. With respect to the Policies a Policy(ies) or this Agreement, MGA shall hold the Company harmless and reimburse the Company for any and all fines and expenses levied against or incurred by the Company as a result of MGA accepting business from an unlicensed Agent, or the failure of the Company, MGA, or any Brokering Agent to comply with all applicable laws and regulations regarding Section 626.752, F.S. regulating the exchange of business between the Company Insurer and Brokering Agents, unless such costs and expenses result solely from the Company’s failure to take legally required or reasonably necessary specific actions recommended to the Company by MGA.
Appears in 1 contract
Sources: Managing General Agency Agreement (Homeowners Choice, Inc.)