FOR IMMEDIATE RELEASE:
2/13/2019
FOR INFORMATION, CONTACT:
Tracy Imm, 410-468-2206

Maryland Consumers Continue to Have Expanded Insurance Carrier and Product Choices in the Marketplace

Since the Start of the Hogan Administration, the Maryland Insurance Administration Has Recruited & Approved 163 Companies to Conduct Insurance Related Business in Maryland; Over 50 Organizations Approved in 2018

BALTIMORE – The Maryland Insurance Administration (“MIA”) today announced that 31 new companies have been approved to conduct insurance related business in the state of Maryland in the second half of 2018; the total for calendar year 2018 was 53 new organizations approved to conduct insurance related business and 11 companies added new lines of business. Since 2015, 163 new companies have been approved by the MIA to conduct insurance related business.
 
Open-for-business-sign-MD.jpg“Our entire agency is committed to adding competition and choices for Maryland citizens. We focus on providing robust consumer protection, while also streamlining our regulatory process to make Maryland a desirable place to do insurance business. We are proud of our business development efforts that have netted new products and additional carriers selecting Maryland to sell insurance,” said Maryland Insurance Commissioner Al Redmer, Jr. “Our goal is to provide Maryland citizens with as much choice as possible when it comes to insurance matters. Our company licensing team continues to focus on promoting the concept that Maryland is Open for Business.”
 
 
July – December 2018 Results:
 
The MIA granted Certificates of Authority to the following insurance companies:
These companies will market their products through brokers and independent agents.
 
  • Amerigroup Insurance Company, State of Domicile: Texas, licensed as a Health Insurer
  • Auto-Owners Specialty Insurance Company, State of Domicile: Delaware, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, and Vehicle Liability Insurer
  • Cimarron Insurance Company, State of Domicile: Arizona, licensed as a Casualty, Health, Marine, Wet Marine and Transportation, Property and Marine, Vehicle Liability, and Workers Compensation Insurer
  • CM Select Insurance Company, State of Domicile: Wisconsin, licensed as a Casualty, Property and Marine, and Vehicle Liability Insurer
  • Connecticut Attorneys Title Insurance Company, State of Domicile: Vermont, licensed as a Title Insurer
  • Cronus Insurance Company, State of Domicile: Texas, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, and Vehicle Liability Insurer
  • Glencar Insurance Company, State of Domicile: Wisconsin, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, Vehicle Liability, and Workers Compensation Insurer
  • Hartford Insurance Company of the Southeast, State of Domicile: Connecticut, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, Vehicle Liability, and Workers Compensation Insurer
  • Hartford Insurance Company of Illinois, State of Domicile: Illinois, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, Vehicle Liability, and Workers Compensation Insurer
  • Liberty Mutual Personal Insurance Company, State of Domicile: Massachusetts, licensed as a Casualty and Property and Marine Insurer
  • MMIC Insurance, Inc., State of Domicile: Minnesota, licensed as a Casualty Insurer
  • Narragansett Bay Insurance Co., State of Domicile: Rhode Island, licensed as a Casualty and Property and Marine Insurer
  • Nutmeg Insurance Company, State of Domicile: Connecticut, licensed as a Vehicle Liability and Workers Compensation Insurer
  • SBLI USA Life Insurance Company, Inc., State of Domicile: New York, licensed as a Life Insurer
  • SFM Mutual Insurance Company, State of Domicile: Minnesota, licensed as a Workers Compensation Insurer
  • UPMC Health Benefits, Inc., State of Domicile: Pennsylvania, licensed as a Health and Workers Compensation Insurer
  • Vault Reciprocal Exchange, State of Domicile: Florida, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, and Vehicle Liability Insurer
  • Viking Insurance Company of Wisconsin, State of Domicile: Wisconsin, licensed as a Casualty, Property and Marine, and Vehicle Liability Insurer
  • Vision Service Plan Insurance Company, State of Domicile: Ohio, licensed as a Health Insurer
  • West Bend Mutual Insurance Company, State of Domicile: Wisconsin, licensed as a Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, Vehicle Liability, and Workers Compensation Insurer

Insurance Companies Approved to Add Lines of Insurance in Maryland Marketplace:

  • Amguard Insurance Company: Currently offers Workers Compensation, Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, and Vehicle Liability; added Health and Mortgage Guaranty
  • Athene Annuity and Life Company: Currently offers Health and Life; added Variable Annuities
  • Eastguard Insurance Company: Currently offers Workers Compensation, Marine, Wet Marine and Transportation, Property and Marine, Surety, and Vehicle Liability; added Casualty, Health, and Mortgage Guaranty
  • General Security National Insurance Company: Currently offers Workers Compensation, Casualty, Property and Marine, Surety, Vehicle Liability, and Marine, Wet Marine and Transportation; added Health
  • GuideOne Elite Insurance Company: Currently offers Workers Compensation; added Casualty and Property and Marine
  • Norguard Insurance Company: Currently offers Workers Compensation, Casualty, Marine, Wet Marine and Transportation, Property and Marine, Surety, and Vehicle Liability; added Health and Mortgage Guaranty

Approved Licensing Rating Organizations:

  • Willis Towers Watson Analytical Insurance Services, Inc., Licensed Rating Organization

Approved Accredited Reinsurers Applications:

  • Quincy Mutual Fire Insurance Company, State of Domicile: Massachusetts
  • ProTucket Insurance Company, State of Domicile: Rhode Island
  • Glencar Insurance Company, State of Domicile: Wisconsin
    Approved New Risk Retention Group (RRG) Application:
  • NCMIC Risk Retention Group, Inc., State of Domicile: Vermont

Approved New Managing General Agents (MGA) Application:

  • Cornerstone Insurance Producers, LLC

Approved New Surplus Lines Applications:

  • Aioi Nissay Dowa Insurance Company of America, State of Domicile: New York
  • Ategrity Specialty Insurance Company, State of Domicile: Delaware
  • Medical Security Insurance Company, State of Domicile: North Carolina
  • Oklahoma Specialty Insurance Company, State of Domicile: Oklahoma

Approved Motor Club Application:

  • Coach-Net RV Motor Club, Inc., Licensed Motor Club
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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