New Mexico Requests Relief Following Wildfires

On July 24, 2024, the New Mexico Office of Superintendent of Insurance (OSI) issued a noticeto all property and casualty insurers doing business in New Mexico requesting relief for the victims of the Salt and South Fork wildfires.

The OSI is encouraging all insurers adjusting personal property claims for those who suffered a total loss of their insured property due to the wildfires, and are eligible under the terms of their policy for either limited replacement cost loss settlement or depreciated loss settlement, to provide certain relief.

The relief the OSI is requesting is as follows:

• Waive any requirement for submitting inventory forms; and
• Pay 60% of the applicable personal property coverage limited of liability.

The OSI is further requesting that all property and casualty insurers email [email protected]with a statement of its intent no later than July 30, 2024.

Please see the noticefor more information.