Posted: 3/15/2011
New Mexico: NAMIC Submits Written Opposition to Trial Bar’s Motion for Adoption of Payee Settlement Notification Proposed Regulation
NAMIC submitted written comments (NM_Payee_Notification_Rulemaking - NAMIC's Comments) on March 11 to the Division of Insurance opposing the Petitioner’s Motion to Adopt Proposed Rule (NM Proposed Settlement Reg) on Payee Notification, Docket NO. 09-00282-IN. The proposed legislation would require insurers to send written notice of the settlement of a pending insurance claim directly to all third-party claimants, even those who have retained their own legal counsel to specifically communicate with the insurer and represent them in their insurance claim.