June 27, 2024 Bulletins SMALL BUSINESS HEALTH INSURANCE PREMIUM RELIEF INITIATIVE PREMIUM REDUCTION PERCENTAGE INCREASES BULLETIN 2024-010: THIS BULLETIN is issued pursuant to NMSA 1978, Section 59A-23F-11, which established the Health Care Affordability Fund to “reduce premiums for small businesses and their employees.” This Bulletin temporarily increases the Premium Reduction Percentage under the Small Business Health Insurance Premium Relief Initiative established in 13.10.36.11 NMAC. SMALL BUSINESS HEALTH INSURANCE PREMIUM RELIEF INITIATIVE PREMIUM […] Read More
June 27, 2024 Bulletins MEDICAL MALPRACTICE PREMIUM REDUCTION BULLETIN 2024-0012: The New Mexico State Legislature appropriated $15.4 million to the New Mexico Office of Superintendent of Insurance (OSI) to address medical malpractice insurance costs for individual providers and independent group practices. The appropriation was part of a supplemental appropriation package passed in 2023 that provided each legislator and Governor Michelle Lujan Grisham with targeted appropriations […] Read More
June 27, 2024 Bulletins SMALL BUSINESS HEALTH INSURANCE PREMIUM RELIEF INITIATIVE PREMIUM REDUCTION PERCENTAGE FOR COVERAGE BULLETIN 2024-011: THIS BULLETIN is issued pursuant to NMSA 1978, Section 59A-23F-11, which established the Health Care Affordability Fund to “reduce premiums for small businesses and their employees.” This Bulletin sets forth program parameters, requirements for issuers, and the Office of Superintendent of Insurance’s (OSI’s) responsibilities under the Small Business Health Insurance Premium Relief Initiative established in […] Read More
June 18, 2024 Bulletins PAYMENT OF RESIDENTIAL PROPERTY LOSS CLAIMS FOLLOWING THE SALT AND SOUTH FORK WILDFIRES BULLETIN 2024-007: This bulletin is issued in accordance with Sections 59A-2-8, 59A-2-10 and 59A-4-3 NMSA 1978, and with 13.1.2.9 NMAC. Upon an order by the Governor based upon the invocation of a state of emergency under the All Hazard Emergency Management Act, the Superintendent of Insurance, may “take those actions necessary to ensure access to insurance and […] Read More
June 18, 2024 Bulletins HEALTH INSURANCE POLICIES AND THE SALT AND SOUTH FORK WILDFIRES BULLETIN 2024008: This bulletin is issued in accordance with Sections 59A-2-8, 59A-2-10 and 59A-4-3 NMSA 1978, and with 13.1.2.9 NMAC. Upon an order by the Governor based upon the invocation of a state of emergency under the All Hazard Emergency Management Act, the Superintendent of Insurance, may “take those actions necessary to ensure access to insurance and […] Read More
June 18, 2024 Bulletins PAYMENT OF AUTOMOBILE LOSS CLAIMS FOLLOWING THE SALT AND SOUTH FORK WILDFIRES BULLETIN 2024009: This bulletin is issued in accordance with Sections 59A-2-8, 59A-2-10 and 59A-4-3 NMSA 1978, and with 13.1.2.9 NMAC. Upon an order by the Governor based upon the invocation of a state of emergency under the All Hazard Emergency Management Act, the Superintendent of Insurance, may “take those actions necessary to ensure access to insurance and […] Read More
June 13, 2024 Bulletins MEDICAL MALPRACTICE PREMIUM REDUCTION BULLETIN 2024006: The New Mexico State Legislature appropriated $15.4 million to the New Mexico Office of Superintendent of Insurance (OSI) to address medical malpractice insurance costs for individual providers and independent group practices. The appropriation was part of a supplemental appropriation package passed in 2023 that provided each legislator and Governor Michelle Lujan Grisham with targeted appropriations […] Read More
April 19, 2024 Bulletins 2024 LONG TERM CARE DATA CALL BULLETIN 2024005: Pursuant to the Superintendent’s authority under NMSA 1978, § 59A-4-3, which authorizes the OSI to “direct an inquiry to any person subject to supervision under the Insurance Code,” the OSI is requesting that all insurers offering long term care insurance policies in New Mexico to provide the information contained in this link, via SERFF. Filings […] Read More
March 6, 2024 Bulletins CYBER ATTACK DATA CALL BULLETIN 2024-004: The Office of Superintendent of Insurance is aware of the February 21, 2024, cyberattack on Change Healthcare, which has impacted health care operations nationwide. Though some entities have voluntarily notified the OSI of how this is impacting New Mexico residents, the responses received have not provided an accurate scope of the impact of this attack. […] Read More
February 20, 2024 Bulletins REQUIREMENT TO PROVIDE REPLACEMENT VALUE ON RESIDENTIAL PROPERTY BULLETIN 2024-003: THIS BULLETIN reminds insurers that all repairs or replacement of residential property must be covered at the cost to repair or replace, without deduction for depreciation. This bulletin is issued in accordance with Section 59-2-8 NMSA 1978, and with 13.1.2, 13.7.4, and 13.13.2 NMAC. Repair or replacement for a residential property is subject to all […] Read More
