FOR IMMEDIATE RELEASE:
9/28/2017
FOR INFORMATION, CONTACT:
Tracy Imm, 410-468-2206

The Maryland Insurance Administration Welcomes 11 New Insurance Companies to Maryland Marketplace

Consumers benefit from competitive marketplace with additional carriers and product choices

BALTIMORE – The Maryland Insurance Administration today announced 11 new insurance companies have been licensed to do business in the state of Maryland since December 2016. This brings the grand total to 30 new companies coming to Maryland to do insurance related business since 2015. The Insurance Administration also approved an application for three 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:
  • ARAG Insurance Company, State of Domicile: Iowa, licensed as a Property and Casualty Insurer
  • Federated Reserve Insurance Company, State of Domicile: Minnesota, licensed as a Property and Casualty Insurer
  • Sentinel Security Life Insurance, State of Domicile: Utah, licensed as a Life, Accident and Health Insurer
  • Lemonade Insurance Company, State of Domicile: New York, licensed as a Property & Casualty Insurer
  • Nebraska Life Assurance Company, State of Domicile: Nebraska, licensed as a Life, Accident, and Health Insurer
  • Everest Denali Insurance Company, State of Domicile: Delaware, licensed as a Property & Casualty Insurer
  • MII Life, Incorporated, State of Domicile: Minnesota, licensed as a Life, Accident, and Health Insurer
  • Partner Reinsurance Company of the U.S., State of Domicile: New York, licensed as a Property & Casualty Insurer
  • United Casualty and Surety Insurance Company, State of Domicile: Massachusetts, licensed as Property & Casualty Insurer
  • Indemnity National Insurance Company, State of Domicile: Mississippi, licensed as a Property & Casualty Insurer
  • Heartland National Life Insurance Company, State of Domicile: Indiana, licensed as a Life, Accident, and Health Insurer

These companies will market their products through brokers and independent agents.

Insurance companies already licensed in Maryland will be expanding their product portfolios as follows:
Insurance Companies Approved to Add Lines of Insurance in Maryland marketplace:
  • American Modern Property and Casualty Insurance Company: Currently offers Casualty Insurance, Marine Insurance, Wet Marine Insurance and Transportation Insurance, Property and Marine Insurance, and Vehicle Liability Insurance; Added Workers’ Compensation Insurance
  • Accredited Surety and Casualty Company, Inc.: Currently offers Casualty Insurance, Marine Insurance, Wet Marine and Transportation Insurance, Property and Marine Insurance, Surety Insurance and Workers’ Compensation Insurance; Added Vehicle Liability Insurance and Health Insurance
  • Commercial Casualty Insurance Company: Currently offers Workers’ Compensation Insurance; Added Health Insurance
Approved New Managing General Agents Applications: 
  • Old Republic Aerospace, Inc.
  • Pets Best Insurance Services, LLC
Approved Accredited Reinsurers Applications:
  • CSAA Insurance Exchange, State of Domicile: California
  • River Thames Insurance Company, State of Domicile: New York
  • Alfa Mutual Fire Insurance, State of Domicile: Alabama
Approved Certified Reinsurers Applications:
  • Legal & General Reinsurance Company Limited, State of Domicile: Maryland
Approved New Risk Retention Group (RRG) Applications:
  • Eagle Builders Insurance Company Risk Retention Group, State of Domicile: North Carolina
  • MLM Risk Retention Group, Inc., State of Domicile: Washington, D.C.
Approved New Surplus Lines Applications:
  • HDI Specialty Insurance Company, State of Domicile: Illinois
  • Golden Bear Insurance Company, State of Domicile: California
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.
 
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