DATA CALL FOR INFORMATION RELATED TO MARKET TRENDS

STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Russell Toal DEPUTY SUPERINTENDENT Jennifer A. Catechis Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Satellite Phone: (505) 322-2186 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us BULLETIN 2021-018 August 30, 2021 TO: ALL INSURANCE CARRIERS WRITING HOMEOWNERS INSURANCE IN NM RE: DATA CALL FOR INFORMATION RELATED TO MARKET TRENDS The New Mexico Superintendent of Insurance is concerned about the diminished availability and affordability of Homeowners insurance across the state. The purpose of this data call is to gather information about insurers’ practices with respect to Homeowners insurance to allow the Office of Superintendent of Insurance (“OSI”) to gain a better understanding of the current trends in this market and help find a solution to the challenges that some New Mexico homeowners are facing. To assist the OSI in this matter, and pursuant to Sections 59A-4-3 and 59A-17-5.1 NMSA 1978, please report the following information: 1) The NAIC company and/or group code(s) for the companies providing the response. 2) A list of New Mexico zip codes, cities, counties, or territories otherwise defined that the company DOES NOT underwrite and the corresponding reasons for not offering coverage in those locations. If the territories are defined by the company in a way that does not clearly identify the area affected, please provide a clear description of the area. a. If the company does exclude certain areas from coverage, please report how often the applicable data is updated and the decision to exclude is reassessed. b. If the company does not exclude entire areas, but sets conditions on accepting certain risks (e.g., will write coverage only if certain mitigation actions are completed), please provide a description of such risks and a brief discussion of the conditions for accepting these risks. B U L L E T I N 2 0 2 1 - 0 1 8 P a g e | 2 Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Satellite Phone: (505) 322-2186 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us 3) Please describe what risk mitigation services your company provides to policyholders, if any. 4) Does the company use any of the following zero-dollar claims for rating or underwriting in an adverse manner? a. Inquiry made, but no claim filed, or claim is filed and withdrawn. b. Claim filed, but no covered damage found, no payment issued. c. Claim filed, damage found although below the deductible, no payment issued. 5) Please provide a brief discussion of the functional areas within the company where Artificial Intelligence tools are employed for Homeowners insurance (if any) and the type or purpose of such tools. This data call is intended for the Owners form of Homeowners insurance and excludes Renters and Condominium forms. Please respond only if the direct premium written, on a group basis, is at least $1 million in calendar year 2020 or is expected to reach or exceed that amount in 2021. No response is required otherwise. The Superintendent classifies the data and information provided in response to this data call as confidential trade secret information pursuant to Sections 59A-2-12(B) and 59A-17.5.1(C). Such data and information shall not be subject to public inspection. Responses should be submitted to Anna Krylova, Chief Actuary, at Anna.Krylova@state.nm.us by October 1, 2021. ISSUED this 30th day of August, 2021. __________________________________ RUSSELL TOAL Superintendent of Insurance