reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.9 - REQUIREMENTS FOR LICENSEES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Hours required biennially.
(1)
				All licensees must complete a minimum of three hours of credits in ethics
				during each compliance period. Ethics credit hours may be included toward the
				total credit hour requirement for each license type.
(2) Title insurance licensees shall complete
				ten credit hours of approved courses covering title insurance. At least three
				credit hours must specifically cover the proper handling of escrow funds. These
				three hours can also be used to satisfy the requirement for three credit hours
				in ethics.
(3) Limited surety
				agents, property bondsmen, solicitors and bail bond solicitors shall complete
				14 hours of approved courses covering the Bail Bondsmen Licensing Law, Sections
				59A-51-1 et seq. NMSA
				1978 and related regulations during each two-year compliance period.
(4) All other licensees shall complete 24
				credit hours of approved courses covering some or all of the kinds of insurance
				for which they are licensed during each compliance period. Licensees who
				transact insurance under multiple lines of authority are only required to
				satisfy a single 24 hour continuing education requirement for each compliance
				period.
(5) Adjusters who are
				licensed prior to July 1, 2017 must satisfy continuing education credits prior
				to renewal of licenses beginning with the first biennial renewal cycle
				occurring after April 30, 2018.
(6)
				Non-resident licensees are not required to complete New Mexico's continuing
				education requirements if the home state requires continuing education and the
				licensee has complied with the continuing education requirements of the home
				state, pursuant to the provisions of Section
				59A-11-23 NMSA 1978.
				However, if a non-resident licensee fails to complete the required continuing
				education courses in the home state, the New Mexico nonresident license shall
				also be cancelled.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.10 - COURSE CONTENT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Course
				length
. Individual courses shall be a minimum of one credit hour in
				length.
B.
Ethics.
A
				single continuing education course may include both ethics and other insurance
				topics meeting the requirements of Subsection C of this section.
C.
Insurance subjects.
(1) General instruction time shall be
				designed to refresh the licensee's understanding of basic insurance principles
				and coverages, applicable laws and regulations, and recent and prospective
				changes to them.
(2) Required hours
				for specialized training requirements must be completed prior to transacting
				the type of insurance and may also be counted toward the 24 credit hour general
				producer licensee requirement.
(a) Producers
				desiring to transact business relating to stop loss insurance shall complete at
				least eight credit hours relating specifically to stop loss
				insurance.
(b) Adjusters and
				producers desiring to transact business relating to flood insurance shall
				complete at least four credit hours relating specifically to flood insurance
				within one year of the effective date of this rule.
(c) Producers shall not transact business
				relating to long term care until they have completed at least eight hours of
				continuing education relating specifically to long term care, and shall
				complete at least four hours of continuing education relating specifically to
				long term care during each compliance period thereafter. The course must
				include topics relating to long term care partnership for producers who wish to
				transact long term care partnership business. Producers who transact long term
				care insurance as of the effective date of this rule shall have one year
				following the effective date of this rule to complete the eight-hour initial
				course requirement.
(3)
				Required training shall not focus specifically on training that is insurer- or
				company-product specific and may not include sales or marketing
				information.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.11 - PROVIDER AND COURSE REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Provider qualifications
. Prior to submitting proposed courses to
				the committee for approval, the provider must submit the following information
				and be approved as a provider:
(1) the name
				and contact information for the provider's primary contact person;
(2) the provider's physical and mailing
				address;
(3) the provider's website
				address;
(4) a link that will be
				provided for licensees to review course dates, location, and content;
(5) procedures that will be used to process
				online enrollment in courses, including payment via credit card; and
(6) experience and qualifications of the
				course instructors.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.12 - REPORTING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Reporting by providers.
Continuing education providers are
				required to report completion of continuing education courses to the
				superintendent. However, it is the responsibility of the individual resident
				licensee to ensure that the superintendent's records reflect the completion of
				the required number of continuing education courses on or before the continuing
				education due date. The licensee must correct any discrepancies in the record
				through the continuing education provider:
B.
Transition and reporting after July
				1, 2017.
(1) All continuing education
				courses must be completed and reported prior to renewal of the license.
				Licensees who fail to complete the required continuing education courses will
				not be permitted to renew the license, which will result in immediate
				termination of the license, pursuant to Section 59A-11-10 NMSA 1978.
(2) For individual licensees who were issued
				or who renewed a one-year agent, broker, or solicitor license prior to July 1,
				2017, the license must be renewed for a biennial insurance producer or bail
				bondsmen's license by April 30, 2018. Prior to that renewal, the individual
				licensee must have completed 15 hours of continuing education courses,
				including at least one hour in ethics, as was required at the time the license
				was issued or renewed.
(3) For all
				biennial licenses issued after July 1, 2017, the licensee shall renew on the
				last day of the second birth month following issue of the license, such that
				the initial compliance period shall be no less than thirteen months and no more
				than twenty-four months in length. Prior to renewal, licensees shall complete
				the required number of continuing education courses, as set forth in Subsection
				A of
				13.4.7.9
				NMAC. The compliance period for completion of continuing education courses is
				the period between issue of the license and renewal on or before the last day
				of the licensees second birth month following issue.
(4) Thereafter, insurance producer licenses
				must be renewed biennially on or before the last day of the licensee's birth
				month. Required continuing education courses must be completed and reported
				during the compliance period, which is the twenty-four-month period immediately
				preceding renewal of the license. In order to allow time for the provider to
				report course attendance prior to expiration of the license, students should
				plan accordingly in order to avoid payment of penalties.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 7 - CONTINUING EDUCATION REQUIREMENTS › Section 13.4.7.13 - AUDITING PROCEDURES

Current through Register Vol. 35, No. 13, July 16, 2024
A. All
				continuing education records submitted or maintained pursuant to this rule are
				subject to audit by the superintendent.
B. If the superintendent finds a licensee or
				provider has failed to timely report continuing education credits through the
				online system, the superintendent may impose a penalty.
C. A provider who fails to submit the roster
				to the superintendent within ten business days may be subject to removal from
				the list of approved continuing education providers in the state. Instructions
				for submitting the roster shall be provided to approved course
				providers.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Office of Superintendent of Insurance (OSI), Producer
				  Licensing Bureau (PLB).
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to resident and non-resident persons
				  seeking licensure to provide adjusting services in this state, as defined in
				  Article 13 of 59A NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  59A-2-8,
				  59A-2-9,
				  and
				  59A-13-1 et seq.
				  NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 2019, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Covered by
				this rule.
The purpose of this rule is to set forth licensing
				requirements of public, independent and staff adjusters in this
				state.
B.
Exclusions:
This rule does not apply to persons who are excluded pursuant to Subsection B
				of Section
				59A-13-2 NMSA
				1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.8 - LICENSE REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
A. No
				individual or business entity shall act as or make any representation as being
				an adjuster unless licensed as such by the superintendent, nor shall such
				person accept a commission, service fee or other valuable consideration for
				investigating or settling claims in New Mexico if that person is required to be
				licensed and is not so licensed.
B.
				No person, regardless of location, shall act as, or make any representation as
				being, an adjuster with respect to workers' compensation claims of claimants
				resident or located in New Mexico unless licensed as such by the
				superintendent. Pursuant to Section
				59A-13-11
				NMSA 1978, each workers' compensation insurer shall have at least one claims
				representative within New Mexico, licensed as an adjuster, to pay workers'
				compensation claims of claimants resident or located in New Mexico. Such claims
				shall be paid promptly through such representatives from accounts in financial
				institutions located within New Mexico.
C. A business entity may not be licensed as
				an adjuster unless at least one officer, active partner, or other managing
				individual of the business entity, and each individual performing acts of an
				insurance adjuster on behalf of the business entity in this state, are
				individually licensed by the superintendent separately from the business
				entity. The business entity shall designate a licensed adjuster responsible for
				the business entity's compliance with the insurance laws, rules and regulations
				of this state.
D. Each license
				shall contain:
(1) the name of the insurance
				adjuster;
(2) the date of issuance
				and the date of expiration of the license; and
(3) if applicable, the name of the firm with
				which the insurance adjuster is employed at the time the license is
				issued.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.9 - LICENSING REQUIREMENTS FOR INDIVIDUAL ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
The superintendent will issue, renew and continue adjuster's
				  licenses for individual adjusters as follows:
A.
Electronic submission.
The
				individual applicant shall submit the application electronically or as
				otherwise directed by the superintendent.
B.
Individual requirements.
The
				superintendent shall issue an individual adjuster's license only to an
				individual who is otherwise in compliance with Chapter 59A, Articles 11 and 13
				NMSA 1978 and who has furnished evidence satisfactory to the superintendent
				that the applicant for license:
(1) is not
				less than 18 years of age;
(2) is a
				bona fide resident of this state, or of a state or country that permits
				residents of this state to act as adjusters therein, except that under
				circumstances of necessity the superintendent may waive the requirement of
				reciprocity;
(3) is trustworthy,
				reliable and can demonstrate a good business reputation, and intent to engage
				in a bona fide manner in the business of adjusting insurance claims;
(4) has passed the examination required for
				licensing;
(5) shall not have
				committed an act that is a ground for license denial, suspension or revocation
				under the Insurance Code;
(6) has
				paid the license fee, as set forth in Section 59A-6-1 NMSA 1978; and
(7) has filed the bond as required 13.4.8.11
				NMAC, or otherwise demonstrated financial responsibility, as approved by the
				superintendent.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.10 - LICENSING REQUIREMENTS FOR BUSINESS ENTITIES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Individual licenses required.
A business entity that is licensed as a public or independent adjuster, or as
				both, shall employ licensed individual adjusters to adjust the types of claims
				for which the business entity is licensed. Such individuals shall hold an
				adjuster's license of the same type or types as that of the business entity
				employer.
B.
General adjuster
				licensing requirements for business entities.
Any resident or
				nonresident business entity that desires a license as a public or independent
				adjuster, or as both, shall file a completed application or applications with
				the superintendent, pursuant to Sections 59A-11-3 and 59A-12-15NMSA 1978.
(1) The business entity shall be:
(a) organized under the laws of this state or
				any other state or territory of the United States;
(b) admitted to conduct business in this
				state by the secretary of state, if required; and
(c) authorized by its articles of
				incorporation or its partnership agreement to act as a public or independent
				adjuster; and
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.11 - PROOF OF FINANCIAL RESPONSIBILITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Prior to issuance of a license as an
				independent or public adjuster to an individual and for the duration of the
				license, the applicant shall file with the superintendent a surety bond in
				favor of the superintendent in aggregate amount of not less than ten thousand
				dollars, conditioned to pay actual damages resulting to this state or any
				member of the public in this state from violation of law by the licensee while
				acting as an adjuster. The bond shall be one executed by an authorized surety
				insurer and offered by a producer licensed and appointed in this
				state.
B. A surety bond used to
				maintain and demonstrate proof of financial responsibility under this section
				shall:
(1) remain in effect for the duration
				of the license, or until the surety is released from liability by the
				superintendent, or until canceled by the surety;
(2) be in the form specified by the
				superintendent;
(3) be executed by
				the insurance adjuster as principal and a surety company authorized to do
				business in this state as surety;
(4) be payable to the superintendent for the
				use and benefit of an insured, conditioned that the insurance adjuster shall
				pay any final judgment recovered against it by an insured;
(5) provide that the surety will give no less
				than 30 days prior written notice of bond termination to the licensee and the
				superintendent;
(6) be separate
				from any other financial responsibility obligation; and
(7) not be used to demonstrate financial
				responsibility for any other license, certification, or person.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.12 - EXAMINATION OF APPLICANTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Examinations required.
An individual applying for a license as an
				adjuster shall, prior to issuance of a license, personally take and pass a
				written examination. The examination required by this section shall be of
				sufficient scope to reasonably test the applicant's:
(1) knowledge, experience or training
				relating to the assessment of:
(a) real and
				personal property values; and
(b)
				physical loss of or damage to real or personal property that may be the subject
				of insurance and claims under insurance;
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.13 - CONTINUATION, NONRENEWAL, CANCELLATION, DENIAL, REVOCATION, SUSPENSION, TERMINATION AND REINSTATEMENT OF LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Continuation and nonrenewal of
				adjuster's licenses.
Unless the license is canceled, revoked, suspended
				or otherwise terminated, an adjuster's license is continuous, subject to
				payment by the due date of renewal fees as set forth in Section 59A-6-1 NMSA
				1978, and for individual licensees, compliance with the continuing education
				requirements set forth in 13.4.7 NMAC.
(1)
				For resident licenses issued to individuals:
(a) Biennial renewal fees shall be paid on or
				before the last day of the second occurrence of the individual's birth month
				following issuance of the license.
(b) Continuing education requirements shall
				be satisfied during the 24 months immediately preceding the renewal date of the
				license. Additional information pertaining to continuing education requirements
				is set forth at 13.4.7 NMAC.
(c) An
				individual who is unable to comply with license renewal requirements due to
				military service, disability or other extenuating circumstance may request a
				waiver using forms available on the OSI website or as otherwise directed by the
				superintendent. An adjuster in such circumstances may also request a waiver of
				a fine or sanction imposed for failure to comply with renewal
				procedures.
(d) If the
				superintendent has reason to believe that the competence of any individual
				licensee is in question, the superintendent may require as a condition of
				continuation of the license that the individual licensee take and pass the
				written examination that is required for new applicants for the same
				license.
(e) If an adjuster's
				license has been expired for one year or more, the adjuster applicant must
				submit to reexamination. Reexamination must be completed within the 12 months
				preceding the application.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.14 - CONDUCT OF ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Standards of conduct.
All adjusters shall adhere to the following
				standards of conduct:
(1) An adjuster shall
				not permit an unlicensed employee or representative of the adjuster to conduct
				business for which a license is required pursuant to the Insurance
				Code.
(2) An adjuster shall be
				honest and fair in all communications with the insured, the insurer and the
				public.
(3) An adjuster shall give
				prompt, knowledgeable service and courteous, fair and objective treatment at
				all times.
(4) An adjuster shall
				not give legal advice, and shall not deal directly with any policyholder or
				claimant who is represented by legal counsel without the consent of the legal
				counsel involved.
(5) An adjuster
				shall comply with all local, state and federal privacy and information security
				laws, if applicable.
(6) An
				adjuster shall not pay a commission, service fee or other valuable
				consideration to a person for investigating or settling claims in this state if
				that person is required to be licensed pursuant to the Insurance Code and is
				not so licensed.
(7) An adjuster
				shall not undertake the adjustment of any claim if the adjuster is not
				competent and knowledgeable as to the terms and conditions of the insurance
				coverage or which otherwise exceeds the adjuster's experience. An adjuster
				shall obtain competent technical assistance, when necessary to help handle
				claims and losses outside the adjuster's area of expertise.
(8) An adjuster shall disclose to an insured
				if the adjuster has any interest or will be compensated by any construction
				firm, salvage firm, building appraisal firm, motor vehicle repair shop or any
				other business entity that performs any work in conjunction with damages caused
				by the insured loss.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.15 - STAFF ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Description of staff adjusters.
A staff adjuster is an employee of
				an insurance company whose work is to investigate, evaluate, and eventually
				settle a claim. In certain situations, a staff adjuster may award the claim to
				the insured (by writing a check in behalf of the company). Evidence of
				financial responsibility as described in 13.4.8.11 NMAC is not required of
				licensed staff adjusters.
B.
Powers of staff adjusters.
A staff adjuster shall have only such
				powers with respect to claims and losses as granted by the staff adjuster's
				employer or affiliates of the staff adjuster's employer.
C.
Appointment required.
A staff
				adjuster must be appointed by an insurance company in order to be licensed in
				this state.
(1) If the appointment of a
				licensed staff adjuster is terminated by an insurance company for any reason,
				notice shall be provided to the superintendent within 10 days.
(2) After a staff adjuster's appointment by
				the insurance company is terminated, the staff adjuster's license will
				terminate automatically if the superintendent is not notified that the staff
				adjuster has been appointed by another insurance company within 30 days after
				submission of the initial notice that the appointment has been
				terminated.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.16 - INDEPENDENT ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Description of independent adjusters.
(1) An independent adjuster is a professional
				who conducts investigations, verification, negotiations, and settling of claims
				for or on behalf of an insurance company, a self-insured firm, or a government
				agency, without being under the employment of the company, firm, or agency in
				question.
(2) Independent adjusters
				either are hired through a third-party firm that specializes in handling claims
				or are self-employed entities. A licensed independent adjuster may be
				outsourced by an insurer to handle claims in this state.
(3) Independent adjusters are generally
				utilized for one of the following reasons:
(a) to assist an insurer following a major
				catastrophe resulting in a manpower shortage to investigate and negotiate on
				its behalf;
(b) for statutory
				reasons or to comply with provisions of an insurance contract;
(c) to meet a need for special expertise;
				or
(d) to deal with claims in
				remote areas.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.17 - POWERS AND RESPONSIBILITIES OF PUBLIC ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
General authority.
A licensed
				public adjuster may adjust claims on behalf of insured clients for property
				claims, both real and personal, including loss of income. Although business
				entities can be licensed as a both public and independent adjuster, an
				individual adjuster that is licensed as a public adjuster shall not be licensed
				additionally as either a staff or independent adjuster.
B.
Standards of conduct.
In
				addition to the general standards of conduct that apply to all adjusters as set
				forth in 13.4.8.14 NMAC, public adjusters shall also adhere to the following
				legal and ethical requirements:
(1) All
				contracts for the services of a public adjuster and required disclosures shall
				be executed in writing and shall comply with the specific requirements set
				forth in Section
				59A-13-15
				NMSA 1978. A sample contract and sample disclosure form, which may be used by a
				public adjuster, are available on the OSI website. Use of the sample contract
				and disclosure will be accepted by the superintendent as compliance with this
				requirement.
(2) A public adjuster
				shall serve with objectivity and complete loyalty in the interest of the public
				adjuster's client alone and shall render to the client such information,
				counsel and service as will best serve the client's insurance claim needs and
				interest.
(3) A public adjuster
				shall not solicit, or attempt to solicit, a client during the progress of a
				loss-producing occurrence, as defined in the client's insurance
				contract.
(4) Unless disclosed to
				the client in writing, a public adjuster shall not refer or direct the client
				to get needed repairs or services in connection with a loss from any person:
(a) with whom the public adjuster has a
				financial interest; or
(b) from
				whom the public adjuster may receive direct or indirect compensation for the
				referral.
(5) Unless
				disclosed to the client in writing, a public adjuster shall not accept any
				compensation or anything of value in connection with a client's specific loss
				in exchange for the referral of a client to any third-party individual or firm,
				attorney, appraiser, umpire, construction company, contractor, or salvage
				company. Such disclosure shall include the source and amount of any such
				compensation.
(6) A public adjuster
				shall not agree to any settlement without the client's knowledge and
				consent.
(7) An individual public
				adjuster, while so licensed by the superintendent, shall not be licensed as a
				staff adjuster or an independent adjuster.
(8) The contract between the public adjuster
				and the client shall not be construed to prevent a client from pursuing any
				civil remedy after the three-business day revocation or cancellation
				period.
(9) A public adjuster shall
				not engage in the unauthorized practice of law.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.18 - EMPLOYMENT OF EMERGENCY ADJUSTERS

Current through Register Vol. 35, No. 13, July 16, 2024
In the event of an emergency requiring the immediate
				  expansion of adjuster services in this state, an insurer or a public adjuster
				  licensed in this state may request authority from the superintendent to employ
				  adjusters to assist with the emergency who are not licensed in this state but
				  who have fulfilled all licensing requirements in their home or in a designated
				  home state and are in good standing in the state of licensure.
A.
Request to employ emergency
				adjusters.
An insurer or public adjuster requesting authority to employ
				emergency adjusters shall provide the superintendent with the following
				information:
(1) the nature of the emergency
				and the affected region of the state;
(2) a list of the emergency adjusters that
				the insurer or public adjuster shall use that are not licensed in this state,
				including the following information for each emergency adjuster:
(a) name,
(b) home address,
(c) last four digits of social security
				number,
(d) national producer
				number,
(e) home state where the
				adjuster is licensed, and
(f) the
				effective date of the contract between the adjuster and the insurer or public
				adjuster;
(3) for the
				individual designated by the insurer or public adjuster who will be responsible
				for the conduct of these adjusters:
(a)
				name,
(b) contact
				information,
(c) national producer
				number, and
(d) New Mexico license
				number; and
(4) any other
				information that the superintendent may require.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 4 - LICENSING OF INSURANCE PROFESSIONALS › Part 8 - PUBLIC, STAFF AND INDEPENDENT ADJUSTERS › Section 13.4.8.19 - ADVERTISEMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Definition.
As used in this section, "advertisement" includes:
(1) printed and published material, audio
				visual material and descriptive literature of an insurance adjuster used in
				direct mail, newspapers, magazines, radio, telephone and television scripts,
				internet web sites, billboards, and similar displays;
(2) descriptive literature and promotional
				aids of all kinds issued by an insurance adjuster for presentation to members
				of the public, including but not limited to circulars, leaflets, booklets,
				depictions, illustrations, form letters, and lead-generating devices of all
				kinds;
(3) prepared promotional
				talks, presentations and materials for use by an insurance adjuster, and those
				representations made on a recurring basis by an insurance adjuster to members
				of the public;
(4) advertising
				material used to:
(a) solicit contracts from
				insureds; or
(b) modify existing
				contracts;
(5) material
				included with a contract when the contract is delivered and materials used in
				the solicitation of contract renewals, extensions or reinstatements, except
				those extensions or reinstatements provided for in the contract;
(6) lead card solicitations, defined as
				communications distributed to the public which, regardless of form, content, or
				stated purpose, are intended to result in the compilation or qualification of a
				list containing names or other personal information regarding insureds who have
				expressed a specific interest in obtaining assistance with having their claims
				settled, and which are intended to be used to solicit residents of this state
				for the execution of a contract for an insurance adjuster's services;
				and
(7) any other communication
				directly or indirectly related to an insurance adjuster contract, and intended
				to result in the eventual execution of such a contract.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
New Mexico State Corporation Commission [Public Regulation
				  Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM
				  87504-1269.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all persons who submit claims in
				  delinquency proceedings pursuant to the Insurers Conservation, Rehabilitation
				  and Liquidation Law, Section 59A-41-1 NMSA 1978 et seq.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section 59A-2-9 NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 1997, unless a later date is cited at the end of a
				  section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to specify the requirements for
				  submitting claims to the receiver or ancillary receiver in delinquency
				  proceedings pursuant to the Insurers Conservation, Rehabilitation and
				  Liquidation Law, Section 59A-41-1 NMSA 1978 et seq.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.8 - CLAIM FILING PROCEDURE

Current through Register Vol. 35, No. 13, July 16, 2024
If requested, any of the following documents sustaining a
				  claim must be submitted to the receiver or ancillary receiver before the claim
				  will be considered.
A. Original
				policies, other contracts of insurance or other satisfactory proof of coverage,
				if the claim is made by the insured.
B. A certified copy of the judgment, if the
				claim is based upon a judgment.
C.
				A dismissal with prejudice of any pending legal action, if the claim is in
				suit, unless the claim is made contingent upon the result of this action. The
				dismissal will be filed upon approval of the claim by the court.
D. A full or partial release, both as to the
				insured and the company, if the claim is made by a third party in connection
				with a matter not in suit. The release will be effective upon approval of the
				claim by the court.
E. Detailed
				invoices covering claims for services, advertising, supplies, legal or
				adjusting services, etc. The original contract must be submitted with all
				claims based upon contracts other than insurance contracts. If the contract is
				oral, the claimant must supply the name of the person who acted for the
				company, the date of the conversation, the identity of all parties to the
				conversation, and a detailed description of the content of the
				conversation.
F. Proof of authority
				satisfactory to the receiver or ancillary receiver must be submitted to support
				claims filed by receivers, administrators, assignees, attorneys-in-fact, agents
				and guardians.
G. Any other
				relevant documentation the receiver or ancillary receiver may
				request.
H. Name and address of
				claimant. All notices regarding claims and all dividends, if any, may be sent
				to the address shown on the proof of claim unless other written instructions
				are given.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.9 - CLAIM FOR RETURN OF UNEARNED PREMIUM

Current through Register Vol. 35, No. 13, July 16, 2024
If requested, any of the following information sustaining a
				  claim for a return of premium on an individual policy of insurance must be
				  submitted to the receiver or ancillary receiver before the claim will be given
				  consideration:
A. the original policy
				of insurance or other satisfactory proof of coverage;
B. affidavit of payment of premium and
				non-recoupment;
C. if return
				premium has been assigned, an assignment of return premium;
D. any other relevant documentation the
				receiver or ancillary receiver may request.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 5 - INSURANCE RECEIVERSHIPS AND GUARANTY ASSOCIATIONS › Part 2 - FILING CLAIMS IN DELINQUENCY PROCEEDINGS › Section 13.5.2.10 - CLAIMS - GENERAL

Current through Register Vol. 35, No. 13, July 16, 2024
If requested, any of the following information sustaining a
				  claim, other than a claim for return of premium on an individual policy of
				  insurance, must be submitted to the receiver or ancillary receiver before the
				  claim will be given consideration:
A.
				The total amount of the claim.
B.
				Nature and value of any security held by the claimant for his or her benefit,
				including other bonds, policies or contracts covering the loss.
C. A concise statement of facts relating to
				the claim.
D. In the event the
				claims are for personal injury or damage to property, the name and address of
				the person injured or the owner of the property must be given. The date, place,
				time and all circumstances surrounding the accident in question must be set
				out.
E. Any disbursement made,
				showing the date, to whom paid, what the payment covered, and the amount paid
				must be set out in full. Original receipts, vouchers, and releases, where these
				have been issued, must be attached in the case of each payment. In the event
				the originals are not available, fully verified copies may be attached. If the
				claim has not been paid, all bills must be listed and attached. Any and all
				bills for hospital and surgical care must be itemized and individual items
				listed. If more than one person is injured, the itemized list must be supplied
				for each person injured of any and all payments and charges paid and due to be
				paid.
F. Any other relevant
				information the receiver or ancillary receiver may request.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
NM Office of Superintendent of Insurance, P.O. Box 1689,
				  Santa Fe, NM 87504-1689.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all life and health insurers issuing
				  individual life or health insurance policies or group life or health insurance
				  policies sitused in New Mexico.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections
				  59A-1-10
				  through
				  59A-1-17;
				  59A-2-7 through 59A-2-9; 59A-5-10; 59A-6-l; 59A-18-12; 59A-18-13.2;
				  59A-18-16.l; 59A-18-16.2; 59A-21-l et seq.; 59A-22-l et seq. NMSA
				  1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
April 1, 2018 unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to address the use of forms
				  previously filed and approved on a matrix basis for New Mexico-sitused group
				  policyholders or for individual policies issued to New Mexico
				  residents.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule:
A.
"Group policy"
means a
				contract for group life or group health insurance made between an insurer and
				an employer, association, trust or other group that covers individuals based on
				their relationships to the group policy holder with or without the covered
				individuals' dependents. Group policy does not include the certificate of
				insurance delivered to individuals insured under such contracts.
B.
"Health insurance"
has the
				meaning as set forth in Section
				59A-7-3
				NMSA 1978.
C.
"Individual"
has the meaning set forth in Subsection B of Section
				59A-1-10
				NMSA 1978.
D.
"Insurer"
has the meaning set forth in Section
				59A-1-8
				NMSA 1978.
E.
"Life
				insurance"
has the meaning as set forth in Section
				59A-7-2 NMSA
				1978.
F.
"Matrix form"
means a policy or certificate consisting of multiple insert pages or paragraphs
				each with its own unique identifiable form number, allowing for the creation of
				multiple policies, certificates or applications by using combinations of the
				insert pages and paragraphs. Matrix forms do not include riders, amendments,
				endorsements, declaration pages, schedule pages and certificate/policy
				specification pages and a matrix form is not created by the addition of such
				forms.
G.
"SERFF"
means the national association of insurance commissioners (NAIC) system for
				electronic rate and form filings.
H.
"Subscriber"
means an
				individual whose employment or other group status, except family dependency, is
				the basis for their coverage for group insurance.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.8 - ISSUANCE OF MATRIX FORMS PROHIBITED

Current through Register Vol. 35, No. 13, July 16, 2024
No insurance policies or related certificates issued to New
				  Mexico - sitused group policyholders or individual insurance policies issued to
				  New Mexico residents with effective dates of July 1, 2019, or later may include
				  matrix-based forms, subject to the exception as described in 13.6.1.9
				  NMAC.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 6 - LIFE AND HEALTH INSURANCE POLICIES AND RATES › Part 1 - LIFE AND HEALTH MATRIX POLICY FORM FILING › Section 13.6.1.9 - EXCEPTIONS FOR PREVIOUSLY APPROVED MATRIX FORMS

Current through Register Vol. 35, No. 13, July 16, 2024
Matrix forms previously filed with and approved by the
				  superintendent may continue to be used as follows:
A. Matrix forms previously filed with and
				approved by the superintendent may continue to be marketed and sold in this
				state, provided that the individual policy or group policy becomes effective on
				or before July 1, 2019.
B. Coverage
				provided under individual policies or group policies and certificates that
				include matrix-based forms may continue if the individual policy or group
				policy was issued prior to July 1, 2019. Coverage may also be extended to new
				subscribers under existing group insurance plans that use matrix-based forms
				that have been approved and are in use as of July 1, 2019.
C. Changes to policies or certificates using
				previously filed and approved matrix forms, affiliated forms, and rates subject
				to Subsections A and B of this section, including but not limited to changes
				required to maintain compliance with state or federal statutory or regulatory
				laws or requirements, shall not require an insurer to issue new non-matrix
				forms and will be permitted, provided the following requirements are met:
(1) Any changes that fall outside the scope
				of approved variability of previously approved matrix-based forms shall require
				a form filing of a rider, endorsement, or amendment and must be submitted to
				the superintendent for approval;
(2) A sample issue specimen of the applicable
				matrix-based policy or certificate forms including every insert page and form
				to be included in the policy or certificate as it will be issued to the
				policyholder or certificate holder and that is the subject of the filing must
				be provided with the SERFF filing in the supporting document tab;
(3) any modification in a matrix-based form
				that also requires a change to the previously approved rates must include a
				corresponding rate filing; and
(4)
				A rate filing subject to Subsections A and B of this section affecting an
				entire class or block of coverage under this section, will be subject to the
				superintendent's review and approval.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 7 - INSURANCE TRADE PRACTICES AND FRAUDS › Part 2 - FREEDOM TO CHOOSE INSURANCE COMPANY AND INSURANCE PROFESSIONAL › Section 13.7.2.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
New Mexico State Corporation Commission [Public Regulation
				  Commission], Department of Insurance, P.O. Box 1269, Santa Fe, New Mexico
				  87504-1269.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 7 - INSURANCE TRADE PRACTICES AND FRAUDS › Part 2 - FREEDOM TO CHOOSE INSURANCE COMPANY AND INSURANCE PROFESSIONAL › Section 13.7.2.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to any person engaged in selling real or
				  personal property, or in the business of financing the purchase of real or
				  personal property, or of lending money on the security of real or personal
				  property.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 7 - INSURANCE TRADE PRACTICES AND FRAUDS › Part 2 - FREEDOM TO CHOOSE INSURANCE COMPANY AND INSURANCE PROFESSIONAL › Section 13.7.2.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections 59A-2-9 and 59A-16-14 NMSA 1978.
New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 7 - INSURANCE TRADE PRACTICES AND FRAUDS › Part 2 - FREEDOM TO CHOOSE INSURANCE COMPANY AND INSURANCE PROFESSIONAL › Section 13.7.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 1997, unless a later date is cited at the end of a
				  section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in
					 brackets.