Portions of the Order which apply to commercial property and auto policies issued by standard and excess & surplus lines carriers include:
D. With respect to policy holders whose residence or business is in the fire impacted counties identified in this order, insurers who write property or homeowners policies in New Mexico, for the
next 120 days, shall:
- Provide a grace period for payment of insurance premiums and offer policy holders a payment plan of no less than six (6) months if unable to pay the delinquency after the 120-day grace period;
- Waive deductibles;
- Postpone cancellations and non-renewals;
- Waive deductibles for Additional Living Expenses (ALE) for any homeowners displaced and requiring ALE, and provide ALE for up to 12 months or until such time as the displace homeowner establishes a new residence, whichever occurs first;
- If the ALE is covered in the policy, insurer must promptly issue advanced payment of $5000.00 to the insured;
- Extend reporting requirements for claims submissions or requests for additional information relating to claims;
- Allow insureds to request a duplicate copy of their policy at no additional costs; and
Suspend late payment, reinstatement or insufficient funds fees along with any other fee, penalty, or interest charge resulting from the insured 's temporary inability to submit premium
payments;
E. With respect to policy holders whose residence or business is in the fire impacted counties identified in this order, that insurers who write automobile policies in New Mexico, for the next 120
days, shall:
- Provide a grace period for payment of insurance premiums, and that policy holders be offered a payment plan of no less than six (6) months if unable to pay the delinquency after the 120-day grace period;
- Waive deductibles;
- Postpone cancellations and non-renewals;
- Extend reporting requirements for claims submissions or requests for additional information relating to claims;
-
Extend reporting requirements for claims submissions or requests for additional information relating to claims;
-
Allow insureds to request a duplicate copy of their policy at no additional costs; and
Suspend late payment, reinstatement or insufficient funds fees along with any other fee, penalty, or interest charge resulting from the insured's temporary inability to submit premium payments;
F. Insurers impacted by this order are directed to make every reasonable effort to assist policy holders by informing them of the provisions of this order. Insurers are expected to document their outreach efforts to those who suffered property damage, injuries, and other losses as a result of the catastrophic fires;
G. This Emergency Order shall take effect immediately for Lincoln County and the Mescalero Apache Reservation and shall remain in effect until Executive Order 2024-033 is renewed, modified, or rescinded by the Governor;