Rule detail : 247997

NM LEG Travel Insurance Practices

Updated on: Apr 14, 2025

Latest Event

Apr. 2025 NM LEG Governor Approval
On Apr. 9, 2025, NM LEG reported bill approved by governor, assigned Chapter 127.

On Mar. 20, NM LEG passed bill regarding insurance for travelers.

NM LEG passed SB 168, Travel insurance act, adding new section to insurance code.
Aim is to provide consumers with peace of mind when planning and booking a trip.
Bill Provisions
Licensing requirements applicable to limited lines travel insurance producer, duties.
Classification of policies, eligibility, underwriting standards, disclosure, documentation.
Sales practices, preexisting conditions exclusions, cancellation rights of consumer.
Permissible marketing practices, required purchase, unfair and deceptive practices.
Legislative History
On Jan. 28, 2025, bill introduced in Senate; on Mar. 10, 2025, bill passed in Senate.
On Mar. 12, 2025, bill introduced in House; on Mar. 20, 2025, bill passed in House.
Effectiveness
Upon approval, effective 90 days after legislature adjourns Mar. 22, effective Jun. 20.
Apr. 2025 NM LEG Governor Approval
On Apr. 9, 2025, NM LEG reported bill approved by governor, assigned Chapter 127.

Regulators

NM LEG

Entity Types

CNSM; IB; Ins

Reference

Ch. 127, 4/9/2025; Bill SB168, 3/20/2025;

Functions

Claims/Accelerated Benefits; Compliance; Fraud; Legal; Market Conduct; Product Administration; Product Design; Registration/Licensing; Sales Practices; Underwriting

Countries

United States of America