Kingstone Companies Inc., a New York-domiciled multi-line property/casualty insurance holding company, announced that its subsidiary, Kingstone Insurance Company, was granted approval to write P/C insurance in New Jersey from the state’s Department of Banking and Insurance.
The addition of New Jersey marks the fifth state where Kingstone Insurance Company is authorized as an admitted carrier of P/C insurance. In addition to New York and Pennsylvania, Kingstone also was licensed by Connecticut and Texas in the last three months. The company said it has applications for admission pending in one additional state that shares similar catastrophe exposure and opportunities as New York.
Kingstone’s Chairman and CEO Barry Goldstein stated, “We are pleased to add New Jersey as the fifth state in which Kingstone is licensed. It is our expectation that we can effectively leverage our reputation with our producers in New York and roll out an agency-only distribution model. We have recently added three states as part of our geographic expansion plans, and look forward to launching our new business efforts.”
Kingstone Companies Inc. is a P/C insurance holding company whose principal operating subsidiary, Kingstone Insurance Company, is domiciled in the State of New York. Kingstone is a multi-line P/C insurance company writing business exclusively through independent retail and wholesale agents and brokers. Kingstone is licensed to write insurance policies in New York, Pennsylvania, Texas, Connecticut, and New Jersey. Kingstone offers P/C insurance products to individuals and small businesses primarily in New York State.
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