Bulletin 2020-006

The record

Jurisdiction

New Mexico

Level

Sector regulator

Authority

N.M. Stat. Ann. ch. 59A; public health emergency (Mar. 11, 2020)

Issued

2020-03-20 Mar. 20, 2020

Effective

2020-03-20

End

requested for the public health emergency and at least 30 days after (read as 2020-09-30)

In force

Mar. 20, 2020 to Sept. 30, 2020

Quarters

2020 Q22020 Q3

2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3

Limitation types

Other

Addressees

• all admitted and non-admitted insurance companies
• agents, brokers and licensees accepting premium payments

Functions reached

• IN (cancellation and non-renewal moratorium request; in-person premium payment discouraged)
• BR (agency offices)
• CB

Collection

Financial Services SEC-13

Operative words

I am requesting that all insurance companies refrain from cancelling or non-renewing policies of businesses and individuals negatively impacted by the disruption due to the non-payment of premiums during this public health emergency, or at a minimum, provide extended grace periods for payment of premiums... consider extending them for a minimum of thirty (30) days after the emergency is declared over.... I am requesting that all insurance agents, brokers, and other licensees who accept premium payments on behalf of insurers take steps to ensure that customers have the ability to make their insurance payments. This should include alternate methods of payment, such as online payments, to eliminate the need for in-person payment methods

Enforcement

Notes