3 New Insurers OK’d to Do Business in Arkansas

Arkansas Insurance Commissioner Allen Kerr has approved three new insurance companies to conduct insurance business in that state.

Authority was granted to West Bend Mutual Insurance Co. (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).

Cimarron Insurance Company (CIC) is now able to offer property, casualty (including workers’ compensation), marine, and accident and health products in Arkansas. CIC is domiciled in Scottsdale, Arizona, with administrative offices in Fort Mill, South Carolina. In November 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 and dismemberment insurance for small contractors and individuals that drive long-haul trucks.

Amerigroup Insurance Company (AIC) of Houston, Texas, has been approved to offer accident and 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. 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).

Kerr has approved 13 new companies so far in 2018 and 78 overall since the start of 2015.

Source: Arkansas Insurance Department

Topics Carriers Workers' Compensation Oklahoma Arkansas