An insurer while authorized to transact property insurance may include in "homeowners" and similar package policies insuring property against loss, reasonable amounts of supplemental liability and medical benefits coverage without being authorized to transact casualty or health insurances; and such supplemental coverages shall not be deemed otherwise to be subject to provisions of the Insurance Code relating to casualty or health insurance contracts.
History: Laws 1984, ch. 127, § 84.
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
Am. Jur. 2d, A.L.R. and C.J.S. references. — Homeowner's liability insurance coverage of injury from formaldehyde insulation in insured premises, 85 A.L.R.4th 956.
Structure New Mexico Statutes
Article 5 - Authorization of Insurers and General Requirements
Section 59A-5-1 - Definitions, in general.
Section 59A-5-2 - "Alien" insurer defined.
Section 59A-5-3 - "Charter" defined.
Section 59A-5-4 - "Domestic" insurer defined.
Section 59A-5-5 - "Foreign" insurer defined.
Section 59A-5-6 - "Lloyds" insurer defined.
Section 59A-5-7 - "Mutual" insurer defined.
Section 59A-5-8 - "Reciprocal" insurer defined.
Section 59A-5-9 - "Stock" insurer defined.
Section 59A-5-10 - Certificate of authority required; penalty.
Section 59A-5-11 - Exemptions from authority requirement.
Section 59A-5-11.1 - Exemption from authority requirement; provider service networks.
Section 59A-5-12 - General eligibility for certificate of authority.
Section 59A-5-13 - General eligibility for authority; ownership and management.
Section 59A-5-14 - Name of insurer.
Section 59A-5-15 - Insuring power combinations.
Section 59A-5-16 - Capital funds, deposits, required for certificate of authority.
Section 59A-5-17 - Insuring powers without added basic capital.
Section 59A-5-18 - General deposit.
Section 59A-5-19 - Special deposit or bond.
Section 59A-5-20 - General deposit of alien insurer.
Section 59A-5-21 - Application for certificate of authority.
Section 59A-5-22 - Issuance, refusal of authority; ownership of certificate.
Section 59A-5-23 - Continuance, expiration, reinstatement of certificate of authority.
Section 59A-5-24 - Suspension or revocation of certificate of authority; mandatory grounds.
Section 59A-5-25 - Impairment as grounds for suspension or revocation of certificate of authority.
Section 59A-5-27 - Duration of suspension; insurer's obligations during suspension; reinstatement.
Section 59A-5-28 - General corporation statutes inapplicable to foreign insurers.
Section 59A-5-29 - Annual statement.
Section 59A-5-29.1 - Quarterly reports.
Section 59A-5-30 - Penalties for late, false annual statements.
Section 59A-5-31 - Appointment of superintendent as process agent.