What it is
The labels overlap in practice, but buyers usually distinguish MGAs by their distribution and program-building role and MGUs by their underwriting factory role for third-party paper.
How it works
Contracts—not titles—define duties: pricing, binding authority, claims handling, and bordereaux responsibilities should be explicit in the underwriting management agreement.
Why it matters
Procurement teams shortlisting platforms need to know whether they are buying distribution workflow, underwriting workbench depth, or both.
Common pitfalls
Assuming the acronym matches the contract is a classic sourcing mistake—validate obligations against the agreement and filings, not the marketing deck.
Related terms
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