What is a Managing General Agent/Underwriter (MGA/MGU)?

Energetic Insurance is licensed as a managing general underwriter (MGU; also known as a managing general agent) for one of the world's largest (re)insurance companies, SCOR Global P&C.

 

As a MGU, Energetic Insurance has underwriting authority (delegated by SCOR) which includes the ability to underwrite, price, service, and issue policies on behalf of the insurer. However, Energetic Insurance is not an insurance "carrier" or "reinsurer" and therefore does not bear any financial risk on our own balance sheet in the event of a claim. More information on MGU/MGAs is available here. 

Energetic Insurance, Inc. is our Delaware C-corp and the primary entity for our business. 

RE3 Energetic Solutions, LLC is our wholly owned subsidiary, which holds our insurance broker/producer licenses and is the entity we will use to issue the policies and collect premiums for projects outside of New York.