A. The legislature finds that insurance fraud is pervasive and expensive, and has the potential for increasing premium rates, placing businesses at risk, reducing the ability of consumers to raise their standard of living and decreasing the economic vitality of the state. Therefore, the legislature believes that the state must aggressively confront the problem of insurance fraud.
B. The purpose of the Insurance Fraud Act is to permit the full utilization of the expertise of the superintendent of insurance to investigate and detect insurance fraud more effectively, to halt insurance fraud and to work with state, local and federal law enforcement and regulatory agencies against the commission of insurance fraud.
History: Laws 1998, ch. 115, ยง 2.
Structure New Mexico Statutes
Section 59A-16C-1 - Short title.
Section 59A-16C-2 - Findings; purpose.
Section 59A-16C-3 - Definitions.
Section 59A-16C-4 - Superintendent's duties.
Section 59A-16C-5 - Superintendent's authority.
Section 59A-16C-6 - Notice and cooperation required; tolling period.
Section 59A-16C-8 - Warning required.
Section 59A-16C-9 - Report of conviction.
Section 59A-16C-10 - Insurer anti-fraud initiatives; special investigative units.
Section 59A-16C-11 - Investigators' powers.
Section 59A-16C-12 - Attorney general's duties.
Section 59A-16C-13 - Insurance fraud policy advisory group.
Section 59A-16C-14 - Insurance fraud fund created; appropriation.
Section 59A-16C-15 - Application of act to other acts.
Section 59A-16C-17 - Automobile theft prevention authority; created; board; powers; duties.