Revised Bulletin on Personal Lines Renewal Premium Disclosures
The Insurance Division has issued Bulletin 2007-004, which describes in greater detail the requirements originally noted in Bulletin 2003-002 that insurers provide their personal lines policyholders, upon request, with a detailed explanation of the causes of renewal premium changes.
New Product Filing Rules
As described in Bulletin 2006-001, the Division revised its property & casualty product filing rules on March 1, 2006. Companies must now file rates and rules separately from forms and must use appropriate NAIC transmittal documents instead of New Mexico’s now-obsolete Form A. Furthermore, most commercial lines products can now be submitted on a file-and-use basis.
For more information, view the new Rate/Rule Filing Rules and Form Filing Rules.
Compare Insurance Premium Guides
The Division of Insurance has created 6 new guides to provide our consumers the opportunity to compare insurance premiums being offered in New Mexico. The Premium Comparison Guides available to consumers include Renters, Condominiums, Homeowners, Automobile Single Driver, Automobile Household policy and Workers Compensation Insurance. Please visit the above link to start using one of our Guides.