Upstate NY insurance company in trouble, tells customers to find a new carrier [Video]

An Upstate New York-based insurance company appears to be going out of business as it urges customers to find a new carrier.

“We regret to inform our agents and policyholders that our financial position has continued to deteriorate,” Adirondack Insurance Exchange said on its website. “We urge all current customers to begin working with their independent agent to secure new coverage with a rated carrier, immediately.”

A letter was also sent to customers earlier this month, telling them to find new insurance coverage as it begins “a transition plan for existing policies.”