Stay Ahead of New Mexico Appointment Renewals: Key Dates and Details

The renewal period for New Mexico appointment renewals is fast approaching! It’s critical for insurance carriers and MGAs to stay informed and act promptly. Missing key deadlines can result in cancellations and significant late penalties. Here’s everything you need to know to keep your appointments up to date.

The renewal period for New Mexico appointment renewals is fast approaching! It’s critical for insurance carriers and MGAs to stay informed and act promptly. Missing key deadlines can result in cancellations and significant late penalties. Here’s everything you need to know to keep your appointments up to date.

The New Mexico appointment renewal period runs from January 3, 2025, to March 1, 2025, with payments due no later than 5:00 PM CST on March 1, 2025. Failing to meet this deadline will result in cancellations and a hefty late penalty of 150% of the invoice fee.

Key points to note:

• Termination Deadline: To avoid unwanted renewals, termination notices must be submitted to NIPR by December 27, 2024.
• Payment Process: All payments must be processed electronically through NIPR, as New Mexico does not accept direct payments or issue refunds. ( Company Appointment Renewals User Agreement )
• Fees: Each line of authority (LOA) carries a state fee of $20 per appointment.

Once invoices are generated, they are final companies cannot remove any names from the list. Payments processed through NIPR are forwarded to the state within 24 hours, ensuring quick and seamless updates to the PDB.

Takeaways

The clock is ticking! Don’t wait until the last minute to review your appointments and submit terminations or payments. Act now to avoid unnecessary complications and penalties. If you have questions or need assistance with the renewal process, reach out to your licensing team or NIPR ( New Mexico Appointment Renewals | NIPR ) today!

Stay proactive and ensure your compliance remains uninterrupted.

Contact Information

Address

Office of Superintendent of Insurance 1120 Paseo De Peralta Santa Fe, NM 87501

Mailing Address

P.O. Box 1689 Santa Fe, NM 87504

Phone: 855-4ASK-OSI (427-5674) Fax: (505) 827-4349 Email: Agents.licensing@osi.nm.gov

New Mexico Website: New Mexico Office Of the Superintendent of Insurance

Business Entity Affiliation Form: 202BAffiliationForm.pdf

Self Storage Producer Licensing Information: SSS-Licensing-Inforamtion.pdf