NEW MEXICO Resident Licensing for Individuals

APPLY HERE

State Announcements

New Mexico will be converting to SBS. As a result of this conversion the state will not be accepting transactions from June 30, 2017 at 4:00pm CDT through July 17, 2017

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 Resident License Application.
No License printing available electronically.
Yes Applicant must currently hold or be applying for life if they are applying for variable.

License Printing

New Mexico does not offer online license printing. Licensees must contact the state.

Business Rules (Individual)

Applicants for the variable line of authority 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.

Non-citizens of the U.S. will be reviewed by the state. Applicant must provide proof of Green Card to the state of New Mexico. Fax documents to the Office of Superintendent of Insurance.

Applicant must provide a valid business email address.

Applicants cannot apply for life (excluding health) or accident & health if applicant already holds the combined line life, accident & health.

Applicant cannot apply for ‘fraternal life’ and ‘fraternal life, accident and health’ Lines of Authority simultaneously.

Applicant must provide a valid residence address. Addresses may not contain a P.O. Box.

Staff adjuster applicants must enter the name of their sponsoring company as well as the company co-code.

All resident applicants for a license and anyone wishing to activate a cancelled resident license must be fingerprinted as part of the application process. Please note that the producer licensing bureau does not consider the application complete until the background check process is completed. More information is available on the state website.

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) Passing Exam Required before Application
Agent Life (excluding Health) Yes
Agent Life, Accident & Health Yes
Agent Accident & Health Yes
Agent Variable Contracts No
Agent Casualty & Surety Yes
Agent Property, Marine & Transportation Yes
Agent Vehicle Yes
Agent Crop/Hail Yes
Broker Life (excluding Health) Yes
Broker Life, Accident & Health Yes
Broker Accident & Health Yes
Broker Variable Contracts No
Broker Casualty and Surety Yes
Broker Property, Marine & Transportation Yes
Broker Vehicle Yes
Broker Crop/Hail Yes
Surplus Lines Broker Surplus Lines No
Fraternal Variable Contracts (Fraternal) No
Fraternal Fraternal Life Yes
Fraternal Fraternal Life, Accident & Health Yes
Staff Adjuster None No

License Fees (Individual)

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

License Class / LOA Combination License Fee *
Agent / All LOAs $30.00
Broker / All LOAs $30.00
Surplus Lines Broker / Surplus Lines $100.00
Fraternal / All LOAs $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: 7/26/2016

NEW MEXICO Resident Licensing for Business Entities

APPLY HERE

State Announcements

New Mexico will be converting to SBS. As a result of this conversion the state will not be accepting transactions from June 30, 2017 at 4:00pm CDT through July 17, 2017

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 Resident License Application.
No License printing available electronically.
Yes Applicant must currently hold or be applying for life if they are applying for variable.

License Printing

New Mexico does not offer online license printing. Licensees must contact the state.

Business Rules (Business Entity)

Applicant must provide a valid email address.

If limited liability company (LLC) is selected, an owner with ten percent (10%) interest must be entered.

Applicants cannot apply for life (excluding health) or accident & health if applicant already holds the combined line life, accident & health.

Applicant cannot apply for ‘fraternal life’ and ‘fraternal life, accident and health’ Lines of Authority simultaneously.

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 LOAs listed on the application at the time it is submitted for the business entity.

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

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 (Business Entity)

License Class Line of Authority (LOA) DRLP Required
Firm Life, Accident & Health Yes
Firm Accident & Health Yes
Firm Life (excluding Health) Yes
Firm Variable Contracts Yes
Firm Casualty & Surety Yes
Firm Property, Marine & Transportation Yes
Firm Vehicle Yes
Firm Credit Life, Accident & Health Yes
Firm Crop/Hail Yes
Firm Transportation Ticket Sellers Yes
Fraternal Fraternal Life Yes
Fraternal Variable Contracts (Fraternal) Yes
Fraternal Fraternal Life, Accident & Health Yes
Surplus Lines Broker Surplus Lines Yes

License Fees (Business Entity)

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

License Class / LOA Combination License Fee *
Firm / All LOAs $30.00
Surplus Lines Broker / Surplus Lines $100.00
Fraternal/ All LOAs $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: 7/26/2016

APPLY HERE