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.
Popular Today
- People Moves: Consilium Taps Carpenter’s Coleman for C-Suite After Co-CEO Baird Suddenly Exits; Everest Promotes Shaw as Chief Commercial Officer of Int’l Division
- Ken Griffin-Backed Florida Bill for Non-Competes Becomes Law
- Meta Investors, Zuckerberg Square Off at $8B Trial Over Alleged Privacy Violations
- Nursing Homes Struggle With Trump’s Immigration Crackdown