New Mexico Insurance Fraud Laws

NEW MEXICO STAT. ANN. §§ 59A-16-8, 59A-16-29, and 59A-16-30

• Providing a false or fraudulent statement or representation regarding a fact that is material to an insurance application
• Filing a false or fraudulent claim for money or benefits
• Preparing, making, or subscribing a false or fraudulent document in support of a claim
• Making a false or fraudulent statement or representation regarding an application for a policy in order to obtain a fee, commission, or benefit from an insurer, agent, broker, or individual

Criminal penalties and fines:

• If the actual or potential loss to the victim is $250 or less, it is a petty misdemeanor punishable by up to 6 months in prison and up to $500 in fines.
• If the actual or potential loss is over $250, it is a misdemeanor punishable by up to 1 year in prison and up to $1,000 in fines.
• If the actual or potential loss is over $500 but not more than $2,500, it is a fourth-degree felony punishable by up to 18 months in prison and up to $5,000 in fines.
• If the actual or potential loss is over $2,500 but not more than $20,000, it is a third-degree felony punishable by up to 3 years in prison and up to $5,000 in fines.
• If the actual or potential loss is over $20,000, it is a second-degree felony punishable by up to 9 years in prison and up to $10,000 in fines.

Insurers, brokers, or agents who commit insurance fraud may also have their licenses suspended or revoked.

If you're having problems with an insurance company or agent, a complaint may be filed with the Office of Superintendent of Insurance.