MEDICAL MALPRACTICE PREMIUM REDUCTION

STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Alice T. Kane DEPUTY SUPERINTENDENT Timothy Vigil SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us BULLETIN 2026-010 June 6, 2026 TO: ALL CARRIERS WRITING 2025 MEDICAL PROFESSIONAL LIABILITY POLICIES FOR INDEPENDENT PROVIDERS IN NEW MEXICO RE: MEDICAL MALPRACTICE PREMIUM REDUCTION The New Mexico State Legislature appropriated $5 million to the New Mexico Office of Superintendent of Insurance (OSI) to address medical malpractice insurance costs for individual providers. The appropriation was part of a supplemental appropriation package passed in 2025. This one-time appropriation directs OSI to provide a premium subsidy for private medical malpractice insurance policies. OSI issued a data call to medical malpractice carriers to determine premiums written for independent providers. OSI used this data to determine a premium percentage reduction to apply to premiums for eligible providers. Bulletin # 2026-010 creates the one-time Medical Malpractice Premium Reduction (MMPR), program eligibility, a premium reduction percentage, the process for disbursing premium reductions, carrier reimbursement and reporting, and the timeline for disbursements and reporting. Provider Eligibility and Qualifying Carriers Independent providers and independent group practices that purchased medical professional liability insurance in 2025 that were reported to OSI in a data call issued on April 10, 2026 qualify for the MMPR. Participation in the Patients' Compensation Fund is not required to qualify for the MMPR. Surplus & excess line policies and risk retention group policies are not eligible for the MMPR. 2 | P a g e SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us Below is a list of Qualifying Carriers that must provide the MMPR to eligible providers described in this Bulletin: • Allied World Insurance Co • Aspen American Insurance Co • Doctors Co • Great Divide Insurance Co • Mag Mutual Insurance Co • Medical Protective Co • NCMIC Insurance Co • Norcal Insurance Co • Proassurance Insurance Co of America • ProAssurance Indemnity • Pro-Select Insurance Co • Professional Solutions Insurance Co • State Farm Fire and Casualty Co The subsidy is only available to providers whose carrier responded to the data request and is listed above. Application of Premium Reductions All carriers that wrote medical professional liability policies for independent providers in 2025 are required to distribute the MMPR to their policyholders. The MMPR amount is based on the earned premium for eligible independent providers between January 2025 and December 2025. Carriers can determine the most efficient means by which to distribute the funds to a provider. Provider Category MMPR Independent Provider Named Insureds with Separate Limits 17.3% of 2025 Earned Premium All others 0.0% of 2025 Earned Premium Carrier Reimbursement and Reporting A senior executive from each carrier must sign OSI’s MMPR Affidavit (Attachment A) no later than June 26, 2026, attesting that all monies distributed by the OSI for the program will be disbursed as described in this Bulletin. The affidavit should be sent to mmpr.inquiry@state.nm.us. Funds will not be disbursed until the affidavit is submitted. Upon receipt of the affidavit, OSI’s vendor will disburse funds to the carrier. Carriers must disburse funds no later than September 1, 2026. Any amounts not disbursed prior to September 1 may be subject to reversion by the legislature. Carriers must issue the MMPR Letter to each eligible provider, which describes the appropriation and basic details about the program. Carriers understand and agree that by accepting the funds the OSI can require a prorated reimbursement of the subsidy if the carrier fails to distribute the funds to any eligible provider in accordance with this Bulletin. In the event a provider cannot be located, the carrier is obligated to return the funds to the OSI. Carriers must promptly submit any disputes to the OSI for review and resolution. 3 | P a g e SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us Provider Inquiries Independent providers and group practices enrolled in a medical professional liability policy in 2025 who believe they have not received the appropriate amount can submit inquiries to mmpr.inquiry@state.nm.us Any questions pertaining to this Bulletin should be directed to Stephen.Thies@osi.nm.gov. ISSUED this 22nd day of June 2026 _________________________________ ALICE T. KANE Superintendent of Insurance STATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Alice T. Kane DEPUTY SUPERINTENDENT Timothy Vigil SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us IN THE MATTER OF DISBURSEMENT OF FUNDS PURSUANT TO THE OFFICE OF SUPERINTENDENT OF INSURANCE BULLETIN 2026-010, DATED June 22, 2026. Carrier: ________________________ Address: _______________________ Authorized Agent: ___________________ Title: _________________ Date of Execution: _____________ Distribution Amount: __________ AFFIDAVIT OF RECEIPT AND DISBURSEMENT OF FUNDS The Authorized Agent of the Carrier, agrees to the following: 1. I am employed by Carrier. As such, I have actual and constructive knowledge of the operations of Carrier. 2. Carrier will receive the Distribution Amount from the New Mexico Office of the Superintendent of Insurance, for disbursement to eligible providers for use towards the reimbursement of insurance premiums pursuant to the Office of Superintendent of Insurance Bulletin 2026-09, dated June 19, 2026 (“Bulletin”). 3. In accordance with the instructions set forth in the Bulletin, Carrier agrees to disburse the funds received from the NM OSI to eligible providers. In the event Carrier is unable or fails to distribute the funds, Carrier acknowledges and agrees that any funds paid to or otherwise received 2 | P a g e SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us by the Carrier from the NM OSI, pursuant to this Agreement, and the Bulletin, or otherwise, shall be subject to recovery by the Office of Superintendent of Insurance. This Affidavit shall be subject to the jurisdiction of Santa Fe County in the State of New Mexico. _______________________________________ Authorized Agent Signature 3 | P a g e SANTA FE LOCATION (MAIN OFFICE) (OVERNIGHT/SECOND DAY MAIL ONLY) 1120 Paseo De Peralta, 4th Floor Santa Fe, New Mexico 87501 (USPS MAIL ONLY) P O Box 1689 Santa Fe, New Mexico 87504 Main Phone: (505) 827-4601 | Toll Free: (855) 4 - ASK - OSI www.osi.state.nm.us