Insurance Insights

August 1-7, 2016

Twenty-fifth new company welcomed to Arkansas

By Allen Kerr

Welcoming new companies to do business in Arkansas is one of the best parts of my job. It means more opportunity for producers, more competition to benefit customers, and more proof that our state is open for business.

Last week, I was 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

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 percent 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.  

Our state is truly open for business, and the Arkansas Insurance Department is committed to continue seeking out more companies to offer products to Arkansans.

It is my pleasure to continue to serve you as your Insurance Commissioner. For more information on the Arkansas Insurance Department, please visit http://insurance.arkansas.gov, follow us on Twitter at http://twitter.com/ARInsuranceDept and Facebook at http://www.facebook.com/ArkansasInsuranceDepartment.  

Allen Kerr was appointed Arkansas Insurance Commissioner on Jan. 13, 2016, by Governor Asa Hutchinson.