The Arkansas Insurance Department has granted a certificate of authority to a Wisconsin-based insurer of church property, CM Select Insurance Company, to do business in Arkansas.
In a statement, Insurance Commissioner Allen Kerr said, "Every new company in Arkansas means more jobs for agents and new opportunities to show how our state is open for business. I am proud to welcome CM Select to Arkansas to provide much needed insurance products for church buildings and religious institutions."
The department granted authority to CM Select, of Merrill, Wisconsin, to offer property, casualty (excluding workers compensation), and marine authority in Arkansas. CM Select is a wholly-owned subsidiary of Church Mutual Insurance Company ("CMIC"). CMIC was incorporated in Wisconsin in 1897 while CM Select was incorporated in 2017.
CMIC is an insurer of churches and religious institutions in the United States providing property and casualty coverages to over 90,000 religious institutions. CM Select will offer a business owners product that includes coverages and endorsements supporting commercial lines business for small to mid-sized religious institutions. CMIC is licensed in all 50 states.
This is the third new company the Arkansas Insurance Department has approved in 2018.