NM HB204

Insurers using wildfire risk models, catastrophe models, or scoring methods for homeowners insurance must submit these models to the superintendent of insurance as part of rate filings, including descriptions, rate impacts, and actuarial justifications

Risk models must incorporate property-specific mitigation actions (defensible space, building hardening) and community-level mitigation activities (forest treatment, fuel reduction), or insurers must provide discounts to policyholders who demonstrate such mitigation efforts

Insurers must provide annual written notice to policyholders and applicants of their wildfire risk score, the score range, primary factors influencing the score, and available mitigation discounts, with applicants receiving this information within 15 days of application

Policyholders and applicants may appeal their wildfire risk score directly to the insurer, who must acknowledge receipt within 10 calendar days and respond with a decision within 30 calendar days

Effective July 1, 2026, applying to insurance filings, policy applications, renewals, and surcharges after June 30, 2026, with the superintendent authorized to promulgate rules including required discount ranges per Insurance Institute for Business and Home Safety standards