#NewMexicoInsurance

Citizen Portal News New Mexico

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1 month ago

Superintendent asks committee to fold PCF settlements into baseline budget, expand fraud and market‑conduct capacity The Office of Superintendent of Insurance asked lawmakers to include routine Patient Compensation Fund settlements in its operating budget, to fund expanded market‑conduct and financial review capability, and to add staff to the insurance‑fraud law‑enforcement unit; the committee adopted the LFC recommendation and asked analysts to examine two fraud positions.

New Mexico's Superintendent of Insurance proposes a bold budget shift to stabilize medical malpractice settlements and enhance fraud enforcement—could this be the game-changer our healthcare system needs?

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#NM #MarketConduct #FraudEnforcement #CitizenPortal #NewMexicoInsurance

Citizen Portal News New Mexico

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11 months ago

Katy Duhigg introduces Senate Bill 124 granting subpoena power to insurance superintendent Senate Bill 124 empowers New Mexico's insurance superintendent to issue civil investigative subpoenas

A groundbreaking bill in New Mexico could change the insurance landscape forever by empowering the Superintendent of Insurance to issue civil investigative subpoenas.

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#NM #RegulatoryReform #CitizenPortal #InsuranceAccountability #ConsumerProtection #NewMexicoInsurance

Citizen Portal News New Mexico

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11 months ago

New Mexico insurance producers face streamlined license renewal procedures Insurance producers may reinstate lapsed licenses within twelve months without retaking exams.

New Mexico's House Bill 369 could revolutionize the insurance industry by allowing producers to reinstate lapsed licenses without retaking exams—will this change enhance accessibility or compromise integrity?

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#NM #MilitaryServiceSupport #RegulatoryReform #NewMexicoInsurance

Citizen Portal News New Mexico

@citizenptnewsnm.bsky.social

11 months ago

Representative Hernandez proposes changes to New Mexico insurance licensing fees Hernandez introduces House Bill 369 to modify licensing time frames and fees.

New Mexico's House Bill 369 could revolutionize insurance licensing, making it easier for new insurers to enter the market and potentially lowering premiums for consumers.

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#NM #ConsumerProtection #RegulatoryReform #NewMexicoInsurance #MarketCompetition #CitizenPortal

Citizen Portal News New Mexico

@citizenptnewsnm.bsky.social

1 year ago

New Mexico lawmakers amend insurance code to combat unfair claims practices Legislators introduce Senate Bill 403 to define and prohibit new unfair claims practices.

Senate Bill 403 is set to revolutionize New Mexico's insurance landscape by tackling unfair claims practices that leave policyholders in the dark.

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#NM #ConsumerProtection #LegislativeReform #NewMexicoInsurance #InsuranceFairness #CitizenPortal