Nebraska — Managing General Agent Bond
The Nebraska Managing General Agent Bond is a mandatory financial security instrument for individuals or entities seeking licensure as a Managing General Agent (MGA) in Nebraska. This bond ensures that the licensee adheres to the requirements set forth in the Managing General Agents Act and Title 210, Rule 59 of the Nebraska Administrative Code.
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- Recorded state
- Nebraska
- Category
- Insurance professionals
What this bond does
The bond serves to protect both insurers domiciled in Nebraska and the insureds whose funds are managed by the MGA. It provides a mechanism for individuals to recover damages if they sustain an injury due to the MGA's failure to perform duties in conformity with state statutes and administrative rules.
- Who needs it
- This bond is intended for entities or individuals applying for an MGA license with the Nebraska Department of Insurance who perform services for insurers licensed in the state or represent Nebraska-domiciled insurers regarding risks outside the state.
- Who it protects
- This is a three-party surety bond. It protects the State of Nebraska as the obligee, as well as specific insureds and insurers impacted by the MGA's operations. The bond guarantees the faithful and lawful conduct of the principal and their employees in accordance with the Managing General Agents Act.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Nebraska Department of Insurance Managing General Agent Bond Form (opens in a new tab)Checked October 18, 2026
Have these ready
- Verify your specific coverage amount requirements with the Nebraska Department of Insurance as mandated by your MGA license application.
- Ensure your business and insurer details are accurate to prevent delays in the execution of the bond.
- Secure an authorized surety company licensed to transact business in the state of Nebraska to issue the bond.
- Prepare the document for signature by the Principal and the Attorney-in-Fact, ensuring all fields are filled as per the official Nebraska form.
Questions about this bond
Who is protected by the Nebraska Managing General Agent Bond?
The bond protects the State of Nebraska, as well as insureds and insurers domiciled in Nebraska whose monies are handled by the Managing General Agent.
How can a surety cancel this bond?
The surety may cancel the bond by providing 60 days of written notice to both the Principal and the Director of the Nebraska Department of Insurance.
Is this a continuous bond?
Yes, the bond is continuous in nature and remains in force until it is released by the Director of Insurance or canceled by the underwriter.
Does this bond cover employees of the MGA?
Yes, the bond requires that all agents and employees representing the Principal must faithfully and lawfully conform to the provisions of the Managing General Agents Act.