Insurance department welcomes 20th company of the year to Arkansas
by October 4, 2017 12:07 pm 223 views
The Arkansas Insurance Department (AID) has granted permission to sell insurance products in the state to American Inter-Fidelity Exchange of Merrillville, Indiana. The announcement was made Wednesday (Oct. 4).
American Inter-Fidelity Exchange has permission to sell property, casualty (excluding workers compensation) and surety products in the state, according to an AID news release.
It marks the 20th company granted authority to sell insurance products in Arkansas this year, and 55th overall since January 2015.
“I am pleased to welcome yet another insurance company to Arkansas,” Arkansas Insurance Commissioner Allen Kerr said in a statement. “With this announcement, the Insurance Department is poised to exceed its total from 2016, which illustrates how our state continues to be open for business.”
American Inter-Fidelity Exchange is a reciprocal insurer, meaning insured’s are members of the exchange. The firm is authorized to write business in 10 states. Primarily a writer of commercial auto business, the company holds an “A-“ (Excellent) rating from A.M. Best Co.