Missouri, Pennsylvania companies push new business count to 25
LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement announcing his approval of two new out-of-state insurers to do business in Arkansas:
“I am proud to grant authority to two new companies to do business in the State of Arkansas, which brings to 25 the amount of new insurance companies I have certified since taking office. Our state is open for business and the Arkansas Insurance Department is committed to continue seeking out more companies to offer products to Arkansans.”
Radian Mortgage Guaranty, Inc. (RMGI), has been issued authority to offer Credit products in Arkansas. RMGI, a Philadelphia, Pa.-based wholly owned subsidiary of the Radian Group, Inc., will provide private mortgage insurance and risk management services to mortgage lending institutions. Private mortgage insurance protects lenders from default related losses on residential first mortgage loans made to home buyers who make down payments of less than 20% of the purchase price. RMGI also offers lender paid private mortgage insurance.
Medical Liability Alliance (MLA) of Jefferson City, Mo. has been granted authority to offer casualty insurance in Arkansas. MLA, a stock property and casualty insurance company formed in 1996, currently markets medical professional liability and general liability to healthcare providers and facilities. MLA is a wholly-owned subsidiary of Missouri Hospital Plan. Prior to expansion into Arkansas, MLA was licensed to do business in Missouri, Illinois and Kansas.