Property and casualty insurer Farmers Alliance Mutual Insurance Co. will accept no new customers in New Mexico and will not renew existing customers’ policies, impacting some 7,000 policyholders, according to the Albuquerque Journal. A spokesperson for the company said the decision was based on profitability, adding the company has paid more in New Mexico to cover losses than it has taken in in premiums.
Topics Agribusiness
Was this article valuable?
Here are more articles you may enjoy.
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
Businessman, Former Federal Insurance Co. Attorney Hit With $50M Florida Verdict 
‘Clear Soft Market Conditions’ for Commercial P/C Lines in Q3, Says CIAB 
AM Best Downgrades State Farm Mutual Auto From This Issue
