Specialized insurance broker licensed to place business with a nonadmitted insurer (a company not licensed to do business in the state). Plan for insuring individual members of a group, such as employees of firms or 1. Surplus lines brokers members of labor unions, under a single program of 2. Mass merchandising insurance at reduced premiums. Property and 3. Career agents liability insurance is sold to individual members using 4. Managing general agent (MGA) group insurance marketing methods. 5. Mutual insurer Insurance corporation 6. Holding company owned by the policyholders, who elect the board of directors. The board appoints managing executives, and the company may pay a dividend or give a rate reduction in advance to insureds