Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates. He has also been featured on sites like UpJourney.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that exis...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Aug 20, 2020

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Company Details
Address: 5051 Journal Center Boulevard NE
City: Albuquerque
State: NM
ZIP Code: 87110
Phone Number:
Website: http://www.msig-nm.com/
Year Founded: 1937
AM Best Rating: A- (“EXCELLENT”)
Company Rating 0 (0 reviews)

Things to Remember...

  • Mountain States Insurance Group is a commercial insurance company
  • Mountain States Insurance Group’s purchased the former Albuquerque Armory as its headquarters in 1957
  • Mountain States Insurance Group works with an undisclosed number of independent insurance brokers and agents based throughout the Rocky Mountain region
  • They do not offer personal lines auto insurance

This Mountain States auto insurance review looks at Albuquerque, New Mexico-based Mountain States Insurance Group.

The company also owns Mountain States Indemnity Company, also based in Albuquerque.

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The focus of Mountain States Insurance Group is property and casualty insurance and offers business insurance products. They do NOT offer personal auto insurance.

Mountain States Insurance Group serves customers in the Rocky Mountain States, including Colorado, Utah, Texas, and New Mexico.

Mountain States Auto Insurance Overview

Mountain States Insurance Group’s purchased the former Albuquerque Armory as its headquarters in 1937.

Since then, the company has deepened its community roots and remains an insurance leader in the Rocky Mountain region. By 1994, the company organized a stock company, Mountain States Indemnity, to offer many kinds of commercial insurance coverage.

By 1998, Mountain States was also doing business in adjoining Colorado and Texas.

Prior to the year 2000, the company moved to its present headquarters at the Journal Building in downtown Albuquerque.

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Mountain States Auto Insurance Financial Information

In 2009, A.M. Best adjusted its previous negative outlook to “B++“ or “Good,” indicating a stable financial foundation. In 2008, the company reported lower capitalization due to risk-adjustment factors.

Substantial underwriting losses also occurred in 2008. Loss claims, including Colorado “construction defect” claims, were significant.

Market values of some bonds held by the company’s investment portfolio also caused a marked-to-market decline in capital.

The downgrade of some of the bonds held in portfolio created the potential for lesser liquidity of portfolio assets. The company demonstrated its overall ability to meet the needs of policyholders.

A.M. Best concluded that the investment portfolio, including currently illiquid bonds, didn’t affect Mountain States Insurance Group’s ability to pay auto insurance and other claims and meet present financial obligations.

For the year ending in December 2009, Mountain States Insurance Group brought in $58.814 million in premium income and generated net premiums of about $43.768 million.

The company reported an underwriting loss of $1.119 million compared to a loss of $11.160 million the previous year.

The company’s financial assets increased to $193 million versus $189.6 million the prior year.

Outstanding liabilities also decreased to $118.2 million versus $121.1 million in 2008. Policyholders’ surplus capital increased from about $74.9 million from $68.5 million in 2008.

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Mountain States Auto Insurance Coverage

Mountain States Insurance Group understands the importance of careful underwriting.

After suffering substantial underwriting losses in 2008, the company evaluates each client’s financial information with care.

The company offers premium audit services by experienced professionals to assist clients.

The audit team is knowledgeable about employer liability and compensation issues as determined by the National Council on Compensation Insurance and the State of New Mexico.

Assisting clients with loss control can help to identify the potential for losses along with the analysis of previously experienced actual losses.

The loss control division is knowledgeable about the following:

  • audit controls
  • Occupational Safety and Health Act (OSHA) requirements
  • World Safety Organization
  • Occupational Safety and Health Act regulations (established by the National Fire Protection Association)

The company provides claims services and solutions to clients. Claims professionals offer on-site investigations and inspections. Claims submitted are managed from start to finish.

Top management is involved in making claims decisions.

When required, outside specialists help the company to evaluate complex or industry-specific claims. The Claims Department’s goal is a rapid but thorough inquiry into payment process.

Mountain States Auto Insurance Agents

Mountain States Insurance Group works with an undisclosed number of independent insurance brokers and agents based throughout the Rocky Mountain region.

The company welcomes the opportunity to work with independent agents and offers access to their agent network through a company website portal.

Sales brokers and agents may submit an indication of interest in Mountain States Insurance Group by sending a resume of experience to the company.

Once approved by Mountain States Insurance Group, independent brokers and agents may access client information and production details through the company website.

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