INSURANCE LICENSING TIMES & FEES

HB 369 modifies the fee schedule for insurance licensing in New Mexico, affecting insurers, agents, brokers, adjusters, and other licensed insurance professionals. It updates specific fee amounts for applications, renewals, and filings - for example, increasing the biennial producer license renewal from $30 to $60 and raising the viatical settlements provider license renewal from $400 to $500. The bill does not change licensing requirements or timelines but adjusts the cost structure for existing license categories. These changes apply directly to all entities seeking or maintaining insurance licenses under New Mexico law. The bill was passed by committees but postponed indefinitely in June 2025.