New companies show state is still ‘open for business’
LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement announcing he has granted authority to three new companies to begin offering products to Arkansas consumers:
“I am proud of the work of AID's Finance Division to efficiently and effectively review these new companies to ensure they can serve Arkansas insurance consumers. I am pleased to show that Arkansas continues to be open for business by granting Certificates of Authority to these businesses.”
Kerr granted authority to Amerigroup Insurance Company (AIC) of Houston, Texas, to offer accident & health policies limited to Medicare in Arkansas. AIC’s focus is Medicare Part D programs and it is a wholly-owned subsidiary of the AMERIGROUP Corporation, whose ultimate parent is Anthem, Inc. (NYSE: ANTM). Anthem offers a comprehensive health insurance and ancillary product portfolio to individuals and employer groups, as well as Medicaid and Medicare eligible individuals. AIC maintains an A.M. Best rating of A-(excellent).
Authority was also granted to West Bend Mutual Insurance Company (WBM) of West Bend, Wisconsin, to offer property, casualty (including workers’ compensation), surety, and marine authority in Arkansas. WBM was organized in 1894 and is a regional property & casualty mutual insurance company that is privately held and owned by its policyholders. Policies are written exclusively through an independent agency system of over 1,450 independent agencies. WBM holds an A.M. Best Rating of A (Excellent).
Finally, Kerr granted authority to Cimarron Insurance Company (CIC) to offer property, casualty (including workers’ compensation), marine, and accident & health products in Arkansas. CIC is domiciled in Scottsdale, Arizona with administrative offices in Fort Mill, South Carolina. In November of 2017, CIC was acquired by Cimarron Underwriters, LLC, which is wholly owned by Jeffrey Scott Roschman. CIC intends to write workers’ compensation, general liability and accidental death & dismemberment insurance for small contractors and individuals that drive long-haul trucks.
Kerr has approved 13 new companies so far in 2018 and 78 overall since the start of 2015.
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