NEW MEXICO Non-Resident Licensing for Individuals

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State Announcements

There are no announcements for New Mexico at this time.

Primary Rules (Individual)

Response Question
Yes Accepts initial license for individuals electronically.
Yes Accepts surplus lines for individuals.
Yes Applicant can add lines of authority (amend) to an existing active license.
Yes Applicant can reinstate through NIPR's Non-Resident License Application.
Yes License printing available electronically.
Yes Applicant must currently hold or be applying for life if they are applying for variable.

License Printing

To print your license, click the state on NIPR's Producer Licensing Map.

Business Rules (Individual)

Non-citizens of the U.S. will be reviewed by the state. Applicant must provide proof of Visa, Work Permit or Green Card to state of New Mexico. Fax documents to the Office of Superintendent of Insurance Attn: Producer Licensing Bureau (505) 827-4373.

Applicants may reinstate through Non-Resident Licensing one year after license expiration date.

Applicants must use Non-Resident Licensing Renewals to late renew if they are applying within one year of expiration date.

Independent Adjuster and Public Adjuster applicants shall file with OSI a surety bond in favor of the superintendent in the aggregate amount of not less than ten thousand dollars ($10,000).  The bond shall be one executed by an authorized surety insurer. Additional information and forms can be found on the NM OSI website under Individual Applications.

Bail Bond Property applicants must submit A Letter of Credit in the amount of $25,000 to the Superintendent of Insurance. Additional information and forms can be found on the NM OSI website under Individual Applications.

Applicants applying for Variable life and Variable Annuity or Fraternal Variable Life and Variable Annuity must supply a FINRA Central Registry Depository (CRD) number on the application.  If you need to verify your CRD number you may use the Broker Search feature found on FINRA's website.

Motor Club applicants must list the name and NAIC Company Co-Code of the sponsoring Company.

Bail Bond Solicitor applicants must list the name and active license number of their sponsoring Bail Bond Property licensee.

If applicant responds "yes" to one of the background questions please submit supporting documents electronically via NIPR's Attachments Warehouse. The documents may also be submitted to the state via mail, email, or fax. All other required documentation must be forwarded directly to the state.

State Offerings (Individual)

Please note that license class names can vary by state.

License Class Line of Authority (LOA)
Insurance Producer Casualty
Insurance Producer Property
Insurance Producer Accident and Health or Sickness
Insurance Producer Life
Insurance Producer Variable Life and Variable Annuity
Insurance Producer Personal Lines
Insurance Producer Credit
Insurance Producer Travel
Insurance Producer Title
Insurance Producer Fraternal Life
Insurance Producer Fraternal Accident and Health or Sickness
Insurance Producer Fraternal Variable Life and Variable Annuity
Bail Bond Property None
Bail Bond Solicitor None
Insurance Consultant Casualty
Insurance Consultant Property
Insurance Consultant Accident and Health or Sickness
Insurance Consultant Life
Insurance Consultant Variable Life and Variable Annuity
Limited Surety Surety Bail Bonds
Motor Club None
Surplus Line Broker None
Temporary Insurance Producer Casualty
Temporary Insurance Producer Property
Temporary Insurance Producer Accident and Health or Sickness
Temporary Insurance Producer Life
Viatical Broker Life
Viatical Broker Variable Life and Variable Annuity

License Fees (Individual)

Fees shown are state fees only. These fees do not include NIPR transaction fees.

New Mexico fees are at the license level

License Class License Fee *
Insurance Producer $30.00
Bail Bond Property $30.00
Bail Bond Solicitor $30.00
Insurance Consultant $50.00
Limited Surety $30.00
Motor Club $30.00
Surplus line Broker $100.00
Temporary Insurance Producer $30.00
Viatical Broker $100.00

* Per application.

Note: Reinstatement fee is the same as the initial license fee.

Additional Fees:
LOA Addition fee - $30.00 per application

Contacts

Last Update: 7/07/2017

NEW MEXICO Non-Resident Licensing for Business Entities

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State Announcements

There are no announcements for New Mexico at this time.

Primary Rules (Business Entity)

Response Question
Yes Accepts initial license for business entities electronically.
Yes Accepts surplus lines for business entities.
Yes Applicant can add lines of authority (amend) to an existing active license.
Yes Applicant can reinstate through NIPR's Non-Resident License Application.
Yes License printing available electronically.
Yes Applicant must currently hold or be applying for life if they are applying for variable.

License Printing

To print your license, click the state on NIPR's Producer Licensing Map.

 

Business Rules (Business Entity)

Applicant must provide at least one Individual entity type on the Owners, Officers, Partners and Directors page of the application.

Insurance Producer, Bail Bond Property, Independent Adjuster, Insurance Consultant, Limited Surety, Motor Club, Surplus Line Broker, Public Adjuster and Viatical Broker

pplicants must submit affiliate appointment form and fees. Affiliate appointment fees must be submitted via paper form. Form 202B can be downloaded from the state.

At least one (1) Designated Responsible Licensed Producer (DRLP) must be listed on the application and have an active resident or non-resident license in New Mexico.

The DRLPs on the application must cumulatively cover all active lines of authority listed on the application at the time it is submitted for the business entity.

Applicants may reinstate through Non-Resident Licensing one year after license expiration date.

Applicants must use Non-Resident Licensing Renewals to late renew if they are applying within one year of expiration date.

State Offerings (Business Entity)

License Class Line of Authority (LOA) DRLP Required
Insurance Producer Casualty Yes
Insurance Producer Property Yes
Insurance Producer Accident and Health or Sickness Yes
Insurance Producer Life Yes
Insurance Producer Variable Life and Variable Annuity Yes
Insurance Producer Personal Lines Yes
Insurance Producer Credit Yes
Insurance Producer Travel Yes
Insurance Producer Title Yes
Insurance Producer Fraternal Life Yes
Insurance Producer Fraternal Accident and Health or Sickness Yes
Insurance Producer Fraternal Variable Life and Variable Annuity Yes
Rental Car None No
Bail Bond Property None Yes
Portable Electronics None No
Independent Adjuster None Yes
Insurance Consultant Casualty Yes
Insurance Consultant Property Yes
Insurance Consultant Accident and Health or Sickness Yes
Insurance Consultant Life Yes
Insurance Consultant Variable Life and Variable Annuity Yes
Limited Surety Surety Bail Bonds Yes
Motor Club None Yes
Pharmacy Benefit Mgr None No
Surplus Line Broker None Yes
Third Party Admin Casualty No
Third Party Admin Property No
Third Party Admin Accident and Health or Sickness No
Third Party Admin Life No
Viatical Broker Life Yes
Viatical Broker Variable Life and Variable Annuity Yes
Public Adjuster None Yes

License Fees (Business Entity)

Fees shown are state fees only. These fees do not include NIPR transaction fees.

New Mexico fees are at the license level

License Class License Fee *
Insurance Producer $30.00
Bail Bond Property $30.00
Portable Electronics $30.00
Independent Adjuster $30.00
Insurance Consultant $50.00
Limited Surety $30.00
Motor Club $30.00
Pharmacy Benefit Mgr $1,000.00
Rental Car $30.00
Surplus line Broker $100.00
Third Party Admin $100.00
Viatical Broker $100.00
Public Adjuster $30.00

* Per application.

Note: Reinstatement fee is the same as the initial license fee.

Additional Fees:
LOA Addition fee - $30.00 per application

Contacts

Last Update: 7/07/2017

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