New Mexico § 59A-17A-8 Adverse action notification

New Mexico Statutes

§ 59A-17A-8 — Adverse action notification

New Mexico § 59A-17A-8

Ch. 59AInsurance Code

Art. 17APersonal Insurance Credit Information Act

This text of New Mexico § 59A-17A-8 (Adverse action notification) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 59A-17A-8 (2026).

Text

A.If an insurer takes an adverse action based upon credit information, the insurer shall notify the consumer in writing, or in the same medium as the application or renewal, of the nature of the adverse action, the reasons for the adverse action and the insurer's extraordinary life circumstances exception policies and procedures as provided by Section 5 [59A-17A-5 NMSA 1978] of the Personal Insurance Credit Information Act.

B.The notification shall identify, in clear and simple language and in descending order of importance, the four most important factors that prevented the consumer from receiving a more favorable insurance score. The factors shall be identified with sufficient specificity that a consumer can identify the factors on a standard credit report.

C.In addition to the inform

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A. If an insurer takes an adverse action based upon credit information, the insurer shall notify the consumer in writing, or in the same medium as the application or renewal, of the nature of the adverse action, the reasons for the adverse action and the insurer's extraordinary life circumstances exception policies and procedures as provided by Section 5 [59A-17A-5 NMSA 1978] of the Personal Insurance Credit Information Act. B. The notification shall identify, in clear and simple language and in descending order of importance, the four most important factors that prevented the consumer from receiving a more favorable insurance score. The factors shall be identified with sufficient specificity that a consumer can identify the factors on a standard credit report. C. In addition to the information described in Subsections A and B of this section, the notification shall include any other language prescribed by rule issued by the superintendent.