Consumers benefit from competitive marketplace with additional carriers and product choices
BALTIMORE – The Maryland Insurance Administration (MIA) today announced six new insurance companies have been licensed to do business in the state of Maryland since July. This brings the grand total to fifteen new companies coming to Maryland to do insurance related business in 2016. The MIA also approved applications for four companies (already licensed to do business in Maryland) to sell additional insurance products.
“We continue to welcome insurance companies to the Maryland marketplace and to have existing companies expand their product offerings to Maryland consumers,” said Maryland Insurance Commissioner Al Redmer, Jr. “Our goal is to provide Maryland citizens with choice when it comes to insurance matters. Our strategy is to be proactive in the area of economic development as it relates to this very important sector of our economy.”
The MIA granted Certificates of Authority to the following insurance companies:
ISDA Fraternal Association, State of Domicile: Pennsylvania, licensed as a Fraternal Benefit Society
Censtat Casualty Company, State of Domicile: Nebraska, licensed as a Property and Casualty Insurer
GPM Health and Life Insurance Company, State of Domicile: Washington, licensed as a Life, Accident and Health Insurer
Security First Insurance Company, State of Domicile: Florida, licensed as a Property and Casualty Insurer
Sompo Japan Fire and Marine Insurance Company of America, State of Domicile: New York, licensed as a Property and Casualty Insurer
United Heritage Life Insurance Company, State of Domicile Idaho:, licensed as a Life, Accident and Health Insurer
Approved New Managing General Agents Applications:
Hagerty Classic Marine Insurance Co., LLC
Lenders Risk Management, Inc.
Superior Vision Services, Inc.
Craig S. Arneson
Approved New Risk Retention Group (RRG) Applications:
Transportation Insurance Services, State of Domicile: South Carolina
County Hall Insurance Company, State of Domicile: Hawaii
Hamden Assurance RRG, Inc., State of Domicile: Vermont
Franklin Casualty Insurance Company, A RRG, State of Domicile: Vermont
Approved New Surplus Lines Applications:
ISMIE Indemnity Company, State of Domicile: Illinois
Insurance Companies Approved to Add Lines of Insurance in Maryland marketplace:
Accident Fund General Insurance Company: Currently offers workers compensation insurance; Added casualty; marine, wet marine and transportation; property and marine; surety, and vehicle liability insurance.
Accident Fund Insurance Company of America: Currently offers workers compensation insurance; Added casualty; marine, wet marine and transportation; property and marine; surety, and vehicle liability insurance.
Accident Fund National Insurance Company: Currently offers workers compensation insurance; Added casualty; marine, wet marine and transportation; property and marine; surety, and vehicle liability insurance.
Watford Insurance Company: Currently offers casualty insurance; Added health; marine, wet marine and transportation; property and marine; surety, vehicle liability, and workers’ compensation insurance.
About the Maryland Insurance Administration
The Maryland Insurance Administration is an independent State agency charged with regulating Maryland’s $28.5 billion insurance industry. For more information about the Insurance Administration, please visit www.insurance.maryland.gov or follow us on Facebook at www.facebook.com/MDInsuranceAdmin or Twitter at @MD_Insurance.