Encova Insurance has announced the redomestication of AlleghenyPoint Insurance and NorthStone Insurance to West Virginia from Pennsylvania. This action helps Encova Insurance simplify regulatory oversight by having BrickStreet Insurance, and all of its subsidiary underwriting companies, domiciled in West Virginia.
“West Virginia has been instrumental to the success of our workers’ compensation operations,” Encova CEO and President TJ Obrokta Jr. said. “The redomestication of AlleghenyPoint and NorthStone Insurance to West Virginia demonstrates our continuing commitment to West Virginia and will allow us to realize some fee and tax savings by having these companies domiciled in West Virginia.”
“This is a positive move for Encova Insurance. We are always encouraged to see expansion in the great state of West Virginia, and we appreciate the continued footprint Encova provides,” West Virginia Commissioner of Insurance James A. Dodrill said.
Encova’s additional workers’ compensation underwriting companies include PinnaclePoint Insurance and SummitPoint Insurance.