Renewals

Annual Continuation of Certificate of Authority and or Certificate of Registration Renewals for Insurance Companies, Fraternal Benefit Societies, Pre-Paid Dental, Motor Clubs, MEWA’s, Pharmacy Benefit Managers, Purchasing Groups and Risk Retention Groups are due on or before March 1 yearly.

The renewal invoices will not be available on our website. The invoices will be emailed in the first week of January to the Company Mailing email address we have on file.

Annual Renewals for Insurance Premium Finance Companies and Advisory Organizations are emailed in April and are due on May 1st yearly. Viatical Settlement Providers are required to renew their licenses yearly on the original issue date and the renewals will be emailed.

Service Contract Providers are required to renew their registration yearly on the original issue date and the renewals will be emailed.

Company Licensing Renewals

• Contact Processing Form.
• NAIC Form 12
• Purchasing Group Annual Filing Form
• Pre-Paid Dental Plan Annual Report Form
• PBM Annual Report

Renewal Requirements

Please be advised that we will not renew the Certificate of Authority until we receive the Annual Continuation of Certificate of Authority fees, the Annual Statement Filing fees, and the requested documents as per 59A-5-23(A)(1)(2)(B)(C).

Please be advised that the Certificates of Authority are perpetual. We will not issue a new Certificate of Authority upon renewal.

The New Mexico Annual Continuation of Certificate of Authority and Registration Renewal requirements are stated below:

• Please submit the invoice, payment by check only. Make sure you check your spam and junk folders for the renewal invoices. We are not accepting electronic payments for renewals this year. All ACH/EFT will be returned to the company.
• A new Contact Processing Form completed in its entirety will be required.
• A new NAIC Form 12 will be required for all companies. The form can be submitted via the NAIC portal and must be signed within the last 6 months. According to New Mexico Statues 59A-5-31 and 59A-5-32 The Office of Superintendent (OSI) will be using an electronic portal for delivery of service of process. Since the OSI will be going electronic, all companies must provide a valid email address from the company to receive service.

You will be required to print your invoice and mail it in with a check payable to OSI or Office of Superintendent of Insurance.  Any other payee names, the check will be returned. We are not accepting electronic payments for renewals.

Payments must be received in our office on or before March 1, yearly.  If we don’t receive payment on or before March 1, yearly, your COA and or COR will expire, and you will be assessed a reinstatement fee and a penalty fee per 59A-5-23, 59A-5-29, and 59A-6-4 of the New Mexico Insurance Code.

Additional Renewal Requirements for Pre-Paid Dental Plans

• Annual Report due on or before March 1 yearly, in accordance with NMSA Section 59A-48-10.

Additional Renewal Requirements for Motor Clubs

• Financial Statements, certified by a registered or certified public accountant, or a financial statement signed by the accounting firm, within the previous twelve (12) months in accordance with NMSA 59A-50-5(C).
• A Statement indicating the amount of annual membership fees collected from residents of the State of New Mexico for the period of January 1 through December 31.  The amount of the surety bond must be based upon the annual membership fees collected in New Mexico in accordance with NMSA Section 59A-50-4 (B)(5).
• A new and/or current verification from the Insurance Company that the Motor Club’s Surety Bond is still in forced.

Additional Renewal Requirements for Purchasing Groups

• Please complete the Purchasing Group Annual Filing Form.

Additional Renewal Requirements for Surplus Line Insurers

• No Renewal Fees are assessed for Eligible Surplus Line Insurers.
• A new Contact Processing Form completed in its entirety will be required.
• A new NAIC Form 12 will be required for all companies. The form can be submitted via the NAIC portal and must be signed within the last 6 months. According to New Mexico Statues 59A-5-31 and 59A-5-32 The Office of Superintendent (OSI) will be using an electronic portal for delivery of service of process. Since the OSI will be going electronically, all companies must provide a valid email address from the company to receive service.

If you have any questions or need further assistance, please contact Company.Licensing@osi.nm.gov.