Main Street America announced it will stop writing new Spring Valley Mutual Co. personal lines and farm business in Minnesota as of Aug. 15, 2013, and non-renew existing policies effective Oct. 1, 2013. Non-renewal notices will begin going out to insureds Aug. 1, 2013.
Mains Street America entered the Minnesota market in 2011 when it formed an affiliation with Spring Valley Mutual Insurance, based in Spring, Valley, Minn. Maple Grove, Minn.-based Austin Mutual Insurance Co. also is an affiliate of Main Street America.
“Over the past several years, we have experienced profitability issues with our Spring Valley Mutual personal lines and farm products. We also have dealt with ‘brand confusion’ amongst our independent agents and their customers because our Spring Valley Mutual and Austin Mutual affiliates have competing homeowners’ products,” said Jeff Kusch, president of Main Street America’s Western Region, headquartered in Maple Grove.
Austin Mutual will continue to offer homeowners’-related products in Minnesota through its statewide network of independent agents. Main Street America’s personal lines changes will have no impact on the company’s commercial lines product suite in Minnesota, which was launched last year. Its’ flagship Main Line Business Owners Policy will continue to be written on Spring Valley Mutual paper. The company also offers commercial auto, workers’ compensation and commercial umbrella products to “Main Street” businesses throughout the state.
Main Street America Group is headquartered in Jacksonville, Fla.
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