FOR IMMEDIATE RELEASE:
8/5/2019
FOR INFORMATION, CONTACT:
Joseph Sviatko, 410-468-2458

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

Since the Start of the Hogan Administration in 2015, the Maryland Insurance Administration Has Recruited & Approved 177 Companies to Conduct Insurance Related Business in Maryland

BALTIMORE – The Maryland Insurance Administration (“MIA”) today announced that 14 new companies have been approved to conduct insurance related business in the state of Maryland since December 31, 2018 and three companies added new lines of business. Since 2015, 177 new companies have been approved by the MIA to conduct insurance related business.

“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 are here.
January – June 2019 Results:
The MIA granted Certificates of Authority to the following insurance companies:
These companies will market their products through brokers and independent agents.
  • Boston Indemnity Company, State of Domicile: South Dakota, licensed as a Surety Insurer
  • Humana Wisconsin Health Organization Insurance Corporation, State of Domicile: Wisconsin, licensed as a Health Maintenance Organization
  • ISNP Ventures, LLC, State of Domicile: Maryland, licensed as Health Maintenance Organization
  • Preferred Employers Insurance Company, State of Domicile: California, licensed as a Workers Compensation Insurer
  • State Volunteer Mutual Insurance Company, State of Domicile: Tennessee, licensed as a Casualty Insurer
  • The American Home Life Insurance Company, State of Domicile: Kansas, licensed as a Life Insurer
  • US National Title Insurance Company, State of Domicile: Mississippi, licensed as a Title Insurer

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

  • Liberty Mutual Personal Insurance Company: Currently offers Casualty, Property; added Vehicle Liability
  • Vantapro Specialty Insurance Company: Currently offers Health, Marine, Wet Marine and Transportation , Workers Compensation, Property and Marine, Surety, and Vehicle Liability; added Casualty
  • Victoria Fire & Casualty Company: Currently offers Casualty,  Health, Marine, Wet Marine and Transportation, Property and Marine, Surety, and Vehicle Liability; added Workers Compensation

Approved Accredited Reinsurers Applications:

  • Grinnell Mutual Reinsurance Company, State of Domicile: Iowa

Approved New Risk Retention Group (RRG) Application:

  • COPIC, a Risk Retention Group, Inc., State of Domicile: D.C.

Approved New Managing General Agents (MGA) Application:

  • Cannon Cochran Management Services, Inc.
  • Universal Insurance Managers, Inc.

Approved New Surplus Lines Applications:

  • Ascot Specialty Insurance Company, State of Domicile: Rhode Island
  • Homesite Insurance Company of Florida, State of Domicile: Illinois

Approved Motor Club Application:

  • Pinnacle 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, Twitter at @MD_Insurance or Instagram @marylandinsuranceadmin.
 
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