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.
DeSantis Plan to Cut Florida Property Taxes Heads to Ballot—With Schools Removed 
NY Lawmakers Agree to Governor’s Auto Insurance Reforms in New Budget 
Amazon’s Ring Sued Over Facial Recognition Feature 
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
