The Office of the Superintendent of Insurance issued fines against two self-storage facilities in New Mexico, for selling unapproved insurance products.
The New Mexico Office of Superintendent of Insurance found more than 1,300 Self-Storage Insurance License Act violations involving Northern Boulevard Storage in Rio Rancho, 528 Armor Storage in Bernalillo. Both are accused of selling unapproved insurance products and committing unfair insurance practices by charging customers for agreements which they did not agree to purchase.