ADJUSTER LICENSING REQUIREMENTS

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 2022-013 July 22, 2022 TO: ALL RESIDENT AND NON-RESIDENT ADJUSTERS LICENSE HOLDERS AND APPLICANTS RE: ADJUSTER LICENSING REQUIREMENTS This bulletin serves to clarify when Designated Home State (“DHS”) licenses are not acceptable at initial or renewal licensing application for purposes of establishing eligibility for a nonresident adjuster license in New Mexico. The Office of Superintendent of Insurance will accept a DHS license for reciprocity purposes only when the individual’s home state does not require licensure as an adjuster, permit a staff adjuster to be licensed as an independent adjuster, or the individual’s home state licensing requirements do not meet the criteria required by the OSI to become licensed as an adjuster in New Mexico. The home state licensing criteria required by the OSI for reciprocity purpose include passing an adjuster exam, passing a fingerprinted background check, and once licensed the adjuster is required to complete no less than 24 hours of continuing education every 2 years, with 3 of the required hours being ethics credits and 3 hours being completed in a classroom or classroom equivalent course setting. Some states do not require staff adjusters to be licensed. However, if a staff adjuster’s resident state offers a resident independent adjuster license and does not restrict a staff adjuster from obtaining that license, the adjuster must hold the independent adjuster license. If a licensed adjuster has a resident address in a state which offers adjuster licensing that meets the exam, background check, and continuing education requirements, but holds a DHS license in a different state, that adjuster’s license will not be renewed. The adjuster will need to correct the discrepancy B U L L E T I N 2 0 2 2 - 0 1 3 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 and submit a new application with fees. If an applicant resides in a state which offers adjuster licensing that meets the requirements mentioned above, but holds a DHS license in a different state, that initial or renewal application will not be approved. The adjuster will need to correct the discrepancy and submit a new application with fees. All non-resident adjusters licensed in New Mexico are strongly encouraged to review the licensing practices in their principal place of residence or principal place of business to be certain that they are meeting the requirements of this bulletin. Failure to do may result in their initial or renewal application being denied. If you have any questions, please contact the New Mexico Producer Licensing Bureau at Agents.Licensing@state.nm.us or 855-427-5674. ISSUED this 22nd day of July, 2022. __________________________________ RUSSELL TOAL Superintendent of Insurance