Bill > SB506

This bill modifies the FAIR (Fair Access to Insurance Requirements) Plan Act by establishing specific insurance liability limits for properties located in different fire department service areas based on their fire department's class rating. For properties in service areas with fire departments rated eight, nine, or ten (indicating lower fire response capabilities), the maximum insurance liability limit will be $600,000. For properties in service areas with fire departments rated one through seven (indicating higher fire response capabilities), the maximum insurance liability limit will be $750,000. The bill also defines a "nationally recognized insurance service" as an organization that collects and evaluates fire department performance data using factors such as emergency communication systems, department staffing and training, water supply, and community risk reduction programs. By introducing these differentiated insurance limits, the bill aims to provide more nuanced insurance coverage that reflects the fire protection capabilities of different local fire departments.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=506&year=25