NM Insurance Bulletin 2023-014

CLAIMS SUBMITTED AS A RESULT OF A SERIES OF NATURAL EVENTS OCCURRING BETWEEN MAY 24 AND MAY 30, 2023

Year: 2023Length: 414 wordsOfficial source
STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE INTERIM SUPERINTENDENT OF INSURANCE Jennifer A. Catechis Main Office: 1120 Paseo de Peralta, Fourth Floor, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us BULLETIN 2023-014 JUNE 1, 2023 TO: ALL INSURANCE COMPANIES THAT HAVE ISSUED RESIDENTIAL PROPERTY INSURANCE POLICIES COVERING RISKS LOCATED IN THE STATE OF NEW MEXICO RE: CLAIMS SUBMITTED AS A RESULT OF A SERIES OF NATURAL EVENTS OCCURRING BETWEEN MAY 24 AND MAY 30, 2023 This bulletin is issued in accordance with Section 59-2-8 NMSA 1978, 13.1.2 NMAC, and 13.7.4 NMAC. Some parts of the state of New Mexico faced tornadoes and severe thunderstorms beginning on May 24, 2023 and lasting over the course of the next several days. In accordance with the guidance set forth in the recently updated OSI rule, specifically 13.7.4.9 NMAC, PRE-DECLARATION INSURER REPORTING REQUIREMENTS, the Superintendent of Insurance is hereby requiring insurance companies to report claims data related to the natural disaster events described above. DEADLINE TO REPORT: Within 7 days of the date of issuance of this Bulletin. REPORT TO: Please send data in Excel format to Anna.Krylova@osi.nm.gov REQUESTED DATA: Number of claims and Incurred Loss estimate, by County, for the claims related to the natural disaster events occurring in New Mexico during the 7-day period of 5/24/2023 through 5/30/2023. B U L L E T I N 2 0 2 3 - 0 1 4 P a g e | 2 Main Office: 1120 Paseo de Peralta, Fourth Floor, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 400, Albuquerque, NM 87110 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us A sample of the data report is provided below. If an insurer reasonably believes additional information will aid the superintendent in deciding whether to declare a catastrophe, the insurer may submit that information in the body of the email. NAIC Company Code Company Name County Number of Claims Submitted Incurred Loss Estimate 12345 ABC Company NM County 1 100,000 12345 ABC Company NM County 2 200,000 12346 DEF Company NM County 3 300,000 If a company does not have any applicable claims to report, no data submission is required. Questions regarding this Bulletin should be directed to Anna Krylova at Anna.Krylova@osi.nm.gov ISSUED this 1ST day of June, 2023. __________________________________ JENNIFER A. CATECHIS Interim Superintendent of Insurance
NM Insurance Bulletin 2023-014: CLAIMS SUBMITTED AS A RESULT OF A SERIES OF NATURAL EVENTS OCCURRING BETWEEN MAY 24 AND MAY 30, 2023 | Justis AI