Unemployment insurance gets and overhaul in New Mexico

Unemployment Insurance North Carolina

Unemployment insurance system of New Mexico to receive an upgrade New Mexico is set to launch a new Unemployment Insurance Tax & Claims system that could help improve the efficiency and integrity of the state’s unemployment insurance program. The system will be launched by the Department of Workforce Solutions, and will help the agency prevent, detect, and recover from illegitimate unemployment insurance payouts that may have been issued due to fraud. The system has won the approval of Governor Susana Martinez, who is eager to welcome the system to the…

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New Mexico to establish new insurance regulation structure

New Mexico health Insurance Regulation Structure

New Mexico aims for new regulatory structure for the insurance industry The New Mexico government is preparing to enroll tens of thousands of residents into new health insurance plans and this has spurred state lawmakers to make changes to regulations that oversee the insurance market. Earlier this month, New Mexico voters approved a change to the state’s constitution. According to the change, insurance companies will no longer be regulated by the Public Regulation Commission. Next July, these companies will fall under the regulatory authority of the Office of the Superintendent…

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Insurers seek to “share the risk” with communities with a higher chance of wildfires

Insurance news – Can industry and consumers find a common ground Insurance companies have announced their hopes to “share the risk” of wildfires with the communities and homeowners located within wild land-urban interface areas. A Rocky Mountain Insurance Information Association presentation outlined the details of the fact that insurance companies are not as willing to provide or renew insurance to customers who are at a high risk of wildfires. As stated by a New Mexico-based State Farm Fire and Casualty Insurance Company official, Matt Brenner, “Why should homeowners be interested…

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New Mexico town requires “potentially dangerous” dog breed owners to take out $100,000 in insurance

Elephant Butte, a town in New Mexico is now requiring the owners of certain dog breeds – including Pit Bulls, Rottweilers, and German Shepherds – to purchase a special form of liability insurance policy. Regardless of the training and past behavior of the animals, as of March 1, 2012, the dogs in those breeds were considered by the city to be potentially dangerous, and their owners had been given 90 days in which to take out a personal property liability policy, worth a minimum of $100,000, to cover them. Alan…

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A growing number of uninsured drivers are on today’s roads

Data from the Missouri Department of Revenue has shown that between July of 2010 and the same month of 2011, that state experienced over 6,000 collisions involving drivers who are not insured, and this figure continues to grow. That data is representative of a trend that is happening in many areas across the country. As is that reported by the Missouri State Highway Patrol, which showed that there were over 22,000 citations for failure to provide proof of automobile insurance – a legal requirement in the state – in 2010.…

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New Mexico to increase reviews of insurance rates

According to state officials, following the questioning of the health insurance company quality oversights last year in New Mexico, that state is now concentrating on boosting the reviews to the requests for rate hikes by pumping $3 million in grant money into the effort. Furthermore, an ombudsman has been employed at the Public Regulation Commission, by the state insurance regulators in order to help consumers to better understand the often complicated health insurance ecosystem, using an additional federal grant of over $220,000. Moreover, deputy superintendent of insurance, Craig Dunbar, said…

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USDA Risk Management Agency approves 2012 pilot insurance for pistachio crops

The USDA Risk Management Agency (RMA) has announced the start of a new pilot pistachio crop insurance that will start with the crop year in 2012. The Pistachio Crop Insurance Program will make coverage accessible to 21 California counties, as well as one in New Mexico and two in Arizona. The names of the counties where the insurance will be available will soon be announced. The length of the pilot program is anticipated to be two years and the policy will be production based. The program itself received its initial…

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