Effective April 1, 2025, New Mexico is clarifying the language regarding Producer, Adjuster, and other license classes for resident and nonresident, for individuals and business entity licenses.

• Resident and nonresident Pharmacy Benefit Managers business entities will need to designate a Designated responsible licensed producers (DRLPs)
• Resident and nonresident Staff adjusters must be terminated within 30 calendar days and no longer within 10 calendar days.

Nonresident

New Mexico updated language involving requirements of getting a license as a nonresident agent or broker if convicted of a felony involving dishonesty or breach of trust if that person has written consent from the Superintendent.  The individual must

• Have the written consent of the home state; 
• And provide acceptable verification to the Superintendent by an OSI-prescribed method.

Resident

The requirement for when a license needs to be reinstated has been updated to remove the option to retake the qualifying examination. A licensee must complete all required CE before submitting an application.

For a resident adjuster license, if the applicant is a citizen of a foreign country, then the application must include proof the applicant is eligible to reside and work in the U.S. 

Resident adjuster licensing made a change that each public adjuster must obtain separate proof of financial responsibility and may not rely on the bond of any other adjuster.

Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.