Adirondack Insurance Exchange and its subsidiary, Mountain Valley Indemnity Co., have announced plans to wind down operations and cease coverage offerings by year-end due to worsening financial conditions. In collaboration with the New York Department of Financial Services, the companies aim for an orderly exit, providing customers time to find alternative insurance. Both firms have committed to issuing prorated refunds for canceled policies and will maintain communication with policyholders throughout the transition. This decision follows a broader trend of challenges in New York’s personal lines insurance market, which has seen the exit of multiple carriers recently.
