Farmers Alliance Mutual Co. Puts Brakes on N.M. Business
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.
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