summary
Introduced
01/26/2026
01/26/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
Passed
Dead
02/19/2026
02/19/2026
Introduced Session
2026 Regular Session
Bill Summary
AN ACT RELATING TO INSURANCE; ENACTING A NEW SECTION OF THE NEW MEXICO INSURANCE CODE TO REQUIRE THAT COVERAGE FOR LOSS FROM A WILDFIRE INCLUDE COVERAGE FOR LOSS FROM RELATED FLOOD DAMAGE.
AI Summary
This bill, titled "Insurance Coverage For Wildfire & Floods," enacts a new provision within the New Mexico Insurance Code to ensure that insurance policies covering wildfire damage also automatically include coverage for related flood damage. This means that if a wildfire causes subsequent flooding, landslides, debris flows, mudflows, mudslides, or similar events, the insurance policy will cover the losses from these related water-related damages for a period of five years after the wildfire is brought under control. This new requirement will apply to insurance policies issued on or after July 1, 2026, providing homeowners and businesses with broader protection against the cascading effects of wildfires.
Sponsors (3)
Last Action
Senate Tax, Business and Transportation Committee (00:00:00 2/14/2026 Room 321) (on 02/14/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=154&year=26 |
| SCONC Committee Report | https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0154CO1.pdf |
| Fiscal Note | https://www.nmlegis.gov/Sessions/26%20Regular/firs/SB0154.PDF |
| SCC Committee Report | https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0154CC1.pdf |
| BillText | https://www.nmlegis.gov/Sessions/26%20Regular/bills/senate/SB0154.pdf |
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