NEW FORM REQUIRED FOR INDEPENDENT AND PUBLIC ADJUSTERS’ SURETY BOND

TO: STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Russell Toal ,11, =€ 51 OfOCEOF NEW MEXICO SUl'!Rtm>IO<NT Of INSURANCE BULLETIN 2020-012 MAY 14, 2020 DEPUTY SUPERINTENDENT Robert E. Doucette, Jr. ·r•;1 !.,  :=:::,:? ': pl :i:-.,,. ALL RESIDENT AND NON-RESIDENT ADJUSTER LICENSE HtltDER1§ APPLICANTS ,,., . ,., '-9 .,::­ .s::- (.FJ •-'l.,.. .,•• I I._ , ,:. : ;, :·;::.  ' '"::: '""1 .• ' - • i I IC_,. ..i:· .. :z: ji"( 4::;., ;"17 ,...!: ., --4 RE: NEW FORM REQUIRED FOR INDEPENDENT AND PUBLIC ADJUSTERS' SURETY BOND THE FOLLOWING BULLETIN is issued pursuant to Sections 59A-2-8, 59A-11-10 and 59A-13-5, NMSA 1978, and Sections 13.1.2.1 through 13.1.2.l0 NMAC. All Independent Adjuster or Public Adjuster cmTent licensees, Adjuster license renewal applicants and first­ time Adjuster license applicants are required to use the new Surety Bond Form to meet the requirements of Section 59A-13-5, NMSA 1978. The fo1m is available online at: https://www.osi.state.nm.us/ wpcontent/uploads/2020/05/2020-05-06-PL-Revised-Surety-Bond.pdf. A recent review of surety bonds cmTently on file with the Office of Superintendent of Insurance (OSI) found incomplete, out-of-date and invalid bonds. In order to bring all surety bonds cunent with correct inf01mation, OSI is requiring use of a new f01m which more closely aligns with the NAIC surety bond f01m. All Adjusters with a cmTent license must mail to the OSI proof of a surety bond on the new f01m, even if an Adjuster recently renewed using the old fo1m. Please note that the new fonn requires notarized signatures and that faxes and emails of the f01m will not be accepted. OSI will accept the new forms from cmTent licensees from now tlu·ough September 30, 2020. Failure to submit the new form by September 30, 2020 may result in initiation of proceedings to revoke the Adjuster's license. All Adjusters are reminded that they must provide OSI with a continuation or renewal ce1iificate upon renewal of their Surety Bond. Because no notarization on the certificate is required, it may be emailed to agents.licensing@state.nm.us or sent in by mail. Please direct your questions regarding this bulletin to Victoria Baca, Bureau Chief, via e-mail at victoriaa.baca@state.nm.us. Any person aggrieved by a bulletin may request a hearing before the Superintendent in accordance with Section 59A-4-15, NMSA 1978. 1tJ ISSUED this ff- day of May, 2020. Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 100, Albuquerque, NM 87110 Main Phone: (505) 827-4601 I Satellite Phone: (505) 322-2186 I Toll Free: (855) 4 - ASK- OSI www.osi.state.nm.us