Retail Insurance Agencies!
GMA does business with retail agents only. GMA does not do business direct to the insured!
Retail Agent must have an office located in any one, or more, of the following states:
- MA - Personal Lines or Admitted Business only
We don't mind non-traditional offices like in-home or in-shed offices, website agencies or kiosks. You must, however, have an office or location that is open to the public and is clearly marked with signage indicating the location of the agency. A picture of the agency location is helpful for determining if it is acceptable.
We will not approve an agency that is using another agency's address. Only one agency per address or location!
Errors and Omissions Coverage
The retail agency is required to carry errors and omissions coverage and provide evidence of coverage upon request.
- $1,000,000 minimum limit
- No minimum deductible requirement
- No additional insured requirement
The retail agency, when dealing with GMA, acts as a broker and represents the insured. The retail agency is not an Agent of GMA and is not appointed or given any authority. In some states, like NY, you are required to hold a special broker's license. A copy of your agency license is required.
An Insurance Agency is held to strict fiduciary rules regarding the handling of premiums. Because we are dealing with premium accounts we might need to determine if you are in-trust, prior to doing business with you. Financials may be required for new Agency contracts depending on the circumstances.
The retail agency must have an agreement to do business with GMA. GMA is looking for a long-term business relationship with the intention of growing. GMA does not do one-shot business deals. This agreement establishes an account current and the conditions under which you may do business with GMA.
Other Required Documents
Commission and Commission Incentive Plans
GMA pays 10% commission for most of our products, both new and renewal. Exceptions to this would be some brokerage programs and personal lines programs. Some personal lines programs might also have the renewal commision lower than the new business commission.
Any submissions that requires an exception commission will be clearly indicated on the written quote provided.
With a minimum premium production of $5000.00 and an agreed upon committment to growth GMA can provide a contract amendment that allows up to 12% on new business. Under this incentive program, renewals would revert to 10% automatically!
We send monthly newsletters, by email, to our customers. Good communications are paramount to keep you informed and up-to-date. For that, we ask that you provide a complete list of your employees and their email addresses so we can get them set up to use our secured portion of the website and to receive our newsletters!