The New Mexico Office of Superintendent of Insurance (OSI) published a bulletin announcing a data call for insurers writing homeowners insurance in the state, as required by NMSA 1978, SECTION 59A-17-5.1.
All insurers that have issued residential property insurance policies covering property in New Mexico must submit their underwriting guidelines that were in effect on September 1, 2024, by September 30, 2024.
NMSA 1978, SECTION 59A-17-5.1 gives the superintendent of insurance the power to direct insurers to file their underwriting guidelines with OSI. The office then reviews the filings and may order an insurer to stop using underwriting or tiering guidelines that are unfairly discriminatory. Filings made to OSI are kept confidential.
The bulletin can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.