Insurance Bureaus >> Company Licensing Bureau

Company Licensing Bureau

Company Licensing is responsible for the review and processing of all applications submitted by insurance companies seeking admission to transact insurance business in the State of New Mexico. We utilize the NAIC UCAA (Uniform Certificate of Authority Application) for insurance companies seeking admission to transact title, property, marine & transportation, casualty, surety, vehicle, life, and health insurance. The application can be found on the NAIC web site at www.naic.org/ucaa. We utilize the Insurance Division’s applications for other kinds of insurance and you can find the applications on our web site. In addition, this section also processes name changes, redomestications, mergers, acquisitions, renewals, etc. regarding any entity licensed through our section.

Statutes

• NM Statutes found at http://www.nmcompcomm.us
  
  
• Article 6 Fees and Taxes
  
  
• Article 20A Viatical Settlements
  
  
• Article 44 Fraternal Benefit Societies
  
  
• Article 58 Service Contract Regulation
  
  

Company Licensing Forms

• Contact Processing Form - MS Word

Applications

• NAIC UCAA APPLICATION - www.naic.org/ucaa
  (Title, Property, Marine & Transportation, Casualty, Surety, Vehicle, Life, and Health)
  
  
• Surplus Line Insurers 
  
  
• Health Maintenance Organization 
  
  
• Non-Profit Health Care Plan
  
  
• Prepaid Dental Plan
  
  
• Fraternal Benefit Society 
  
  
• Mexican Casualty Insurer
  
  
• Advisory Organization
  
  
• Motor Club 
  
  
• Insurance Premium Finance Company 
  
  
• Viatical Settlement Provider 
  
  
• Service Contract Provider 

Purchasing Groups

• Purchasing Groups are required to renew their registration every March 1st. Notice of the fee and documentation required will be mailed out the first part of January.
  
  
• Liability Risk Retention Act of 1986

Applications

• Purchasing Group Application - PDF
  
  
• Original Registration fee of $500.00 – Make check payable to the New Mexico Public Regulation Commission, Insurance Division
  
  

Renewals for insurance companies, Health Maintenance Organizations, Fraternal Benefit Societies, Prepaid Dental Plans, Non-Profit Health Care Plans, Mexican Casualty Insurers, Title, and Motor Clubs are due on March 1st of every year. Instructions and forms are mailed out the first part of January.

Surplus Line Insurers that appear on our Eligilibility Listing as a Surplus Line Insurer are required to file documentation every March 1st. Notice of the documentation required is mailed out the first part of January.

Renewals for Insurance Premium Finance Companies, and Advisory Organizations are mailed out in April and are due on May 1st of every year.

Viatical Settlement Providers are required to renew their license annually on the original issue date. Notice will be mailed.

Service Contract Providers are required to renew their registration annually on the original issue date. Notice will be mailed.

Risk Retention Groups

Renewals

• Risk Retention Groups are required to renew their registration every March 1st. Notice of the fee and documentation required will be mailed out the first part of January.
  
  
• Liability Risk Retention Act of 1986
  

Applications

• Risk Retention Group Requirements
  
  
• Risk Retention Group Application (Foreign) -PDF
  Original Registration fee of $500.00 – Make check payable to the New Mexico Public Regulation Commission, Insurance Division
  
  

The instructions and forms for securities can be obtained from the custodial bank’s web site athttp://www.bankofalbuquerque.com/NMD/. The custodial bank also has available the Form for Verification of Name and Address and W-9.

• Deposit Form 600 - MS Excel PDF
  
  
• Withdrawal Form 650 - MS Excel PDF
  
  
• Surety Bond Form 800 NM-INS
  
  
• The instructions for surety bonds can be obtained from the custodial bank’s web site at http://www.bankofalbuquerque.com/NMD/

• Insurance Premium Finance
  
  
• Surety Bond
  
  
• Motor Club Surety Bond
  
  
• Service Contract Provider Surety Bond
  
  
• Viatical Settlement Provider Surety Bond
  
  

SURPLUS LINE BROKER PREMIUM TAX FILINGS

Licensed Surplus Line Brokers are required to pay Quarterly Surplus Line Premium Taxes of three and three-thousandths percent (3.003%) of total premiums plus all additional fees in accordance with NMSA § 59A-14.  Included herein are the forms and instruction for Licensed Surplus Line Brokers to file the required Surplus Line Broker Premium Taxes.  Please be advised that the State of New Mexico does not allow courtesy filings of Surplus Line Broker Premium Taxes.

• INSTRUCTIONS FOR SURPLUS LINE BROKER PREMIUM TAX FILINGS
  
  
• 13 NMAC 19.2.17 - Documentation and reporting requirements
  
  
• Sample SLB (excel)
  
  
• SURPLUS LINES BROKER QUARTERLY SUMMARY REPORT
  
  
• PRODUCING BROKER AFFIDAVIT
  
  
• NEW MEXICO SURPLUS LINES BROKER'S COUNTERSIGNATURE ENDORSEMENT THIS ENDORSEMENT MUST BE ATTACHED TO THE POLICY AS PART OF THE INSURANCE CONTRACT

59A-14-5- Identification and notice on contract

Every insurance contract procured and delivered as surplus lines insurance pursuant to Chapter 59A, Article 14 NMSA 1978 shall bear the name, address and signature of the surplus lines broker who procured it and have stamped, printed or otherwise displayed prominently in boldface ten-point or larger type either upon its declarations page or by attachment of an endorsement, the form of which may be promulgated by the superintendent, the following: "This policy provides surplus lines insurance by an insurer not otherwise authorized to transact business in New Mexico. This policy is not subject to supervision, review or approval by the superintendent of insurance. The insurance so provided is not within the protection of any guaranty fund law of New Mexico designed to protect the public in the event of the insurer's insolvency."

INSTRUCTIONS FOR SURPLUS LINE INSURER FILINGS

Public Regulation Commission
Company Licensing Bureau
1120 Paseo De Peralta
P.O. Box 1269
Santa Fe, NM 87501

phone: 1-888-427-5772

fax: 505-827-4734