Arkansas Insurance Commissioner Allen Kerr announced that three Florida-domiciled insurance companies have been approved to do business in the state.
Kerr granted certificates of authority to Vault Reciprocal Exchange, Normandy Insurance Co. and Tower Hill Prime Insurance Co.
Vault Reciprocal Exchange and Tower Hill Prime Insurance were approved to sell property, casualty and marine products in the state, while Normandy Insurance was approved to sell casualty products covering workers compensation only.
Vault Reciprocal Exchange is a policyholder-owned reciprocal exchange that has 25 affiliates licensed in Arkansas. Normandy Insurance specializes in workers compensation for hospital and medical facility employees and targets small and midsize business owners. Tower Hill Prime Insurance is licensed to write single-family home, dwelling/fire, flood and commercial business in seven states.