The New Mexico Office of Superintendent of Insurance (OSI) published a news release providing information on insurance protections provided by the OSI following the Trout Fire that impacted Grant County.
New Mexico Governor Lujan Grisham issued an Executive Order in response to the fire, which gave the OSI the authority to issue an Emergency Order. The order requires property insurers and health insurers to follow certain protective measures for the next 90 days.
The Emergency Order requires property insurers, including those offering homeowners and auto policies, to provide grace periods for premium payment and claims submission, waive deductibles, postpone cancellations and non-renewals, and suspend late payment fees. Residents should be aware that most homeowners policies provide ALE coverage for displaced policyholders.
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