Proposed Rule Addresses Adjuster Licensing Requirements

The New Mexico Superintendent of Insurance has proposed a rule regarding licensing requirements for public, independent and staff insurance adjusters in the state. Under the proposed rule, licensure would be required for insurance adjusters investigating or settling claims in New Mexico. The rule would require adjusters working on comp claims for claimants in New Mexico to be licensed. Each workers’ comp insurer would be required to have at least one claims representative within the state, licensed as an adjuster, to pay claims. In addition, the claims would have to be paid promp...