New Mexico: Catastrophe Declared for Salt, South Fork Fires

State: New Mexico

LOB: All

The New Mexico Superintendent of Insurance issued a Declaration of Catastrophe Sept. 6 related to the June 18, 2024, Salt and South Fork fires. Following this declaration, the OSI issued Corrected Bulletin 2024-015 to all insurance companies that have issued property /casualty insurance policies covering risks located in the areas impacted by the Salt and South Fork fires.

The bulletin advises that pursuant to N.M. Code R. § 13.7.4.11, insurers must settle each catastrophic claim, property insurance claim, or vehicle physical damage insurance claim directly resulting from the catastrophe within 90-days from the date of the declaration, Sept. 6, 2024.

Questions regarding this bulletin should be directed to Melissa Robertson by emailing Melissa.Robertson@osi.nm.gov or by calling (505) 670-2704.