---
schema_version: "secwatch.filing_event.v1"
accession: "0001840776-23-000178"
form_type: "8-K"
ticker: "HGTY"
cik: "0001840776"
company_name: "Hagerty, Inc."
filed_at: "2023-12-22T23:59:59+00:00"
generated_at: "2026-06-07T08:15:13.204986+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Hagerty-Markel alliance amended; insurer acquisition delayed to 2026-2030, commission structure altered

## Summary
- New Enthusiast Business definition removed from Restricted/Alliance Business, enabling third-party insurance opportunities.
- Hagerty's option to acquire Essentia Insurance delayed: earliest 2026, latest 2030.
- Five points moved from Contingent Underwriting Commission to base commission; CUC payments switch to monthly.
- Sixth Amended LLC Agreement updates definitions to align with the Alliance Agreement changes.

## SEC filing metadata
- accession: 0001840776-23-000178
- form_type: 8-K
- ticker: HGTY
- cik: 0001840776
- company_name: Hagerty, Inc.
- filed_at: 2023-12-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840776/000184077623000178/0001840776-23-000178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840776/000184077623000178/hgty-20231218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840776-23-000178
- JSON: https://secwatch.observer/filing/0001840776-23-000178.json
- Plain text: https://secwatch.observer/filing/0001840776-23-000178.txt

## Key facts
- Material Agreements
  Hagerty, Inc. amended Fifth Amended and Restated Master Alliance Agreement with Markel Corporation (effective 2023-12-18).
  - Action: amendment
  - Agreement: collaboration
  - Counterparty: Markel Corporation
  - Effective: 2023-12-18
  source text: On December 18, 2023, The Hagerty Group, LLC ("OpCo"), a subsidiary of Hagerty, Inc. (the "Company") entered into the Fifth Amended and Restated Master Alliance Agreement (the "Alliance Agreement") between OpCo, the Company, and Markel Corporation ("Markel"), which amended and restated the Fourth Amended and Restated Master Alliance Agreement, dated December 8, 2021, between the parties as described below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840776/000184077623000178/0001840776-23-000178-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.