New Mexico Mutual
Carrier website links, underwriting access points, mapped product lines, and appetite notes in one place.
This appetite summary is only a guide. Confirm eligibility, submission requirements, restrictions, and binding authority directly with the carrier or underwriter before relying on it.
Carrier appetite summary
Scope & appetite: - Monoline workers’ compensation and employers liability for New Mexico employers; policies written under NCCI rules and rates filed with the New Mexico Office of Superintendent of Insurance. - Broad appetite: New Mexico Mutual insures roughly 85% of all WC classification codes in New Mexico. Preferred / target business: - Most standard WC classes are eligible; the EZ Quote program and industry‑specific forms highlight active targets in: alarm/security, auto shops & auto dealers, contractors, farm & ranch, healthcare, hospitals, hospitality, manufacturing, municipalities, oil & gas (onshore), restaurants, salvage/recycling & garbage/refuse, social services, and transportation. - Risks with clear, well‑documented operations, safety controls, and acceptable loss history are favored. Detailed underwriting information (operations narrative, ownership, safety controls, loss runs with details, and current experience mod worksheets) improves pricing and turnaround. Declined / ineligible classes (excluded operations): New Mexico Mutual’s reinsurance treaty lists operations outside appetite. These are generally declined unless a specific exception is approved by underwriting: - Aviation and high‑hazard operations: aircraft or helicopter operations; amusement park operations; athletic teams; bridge or tunnel operations; marinas; marine railway operations; ship hulls painting; piers or wharf construction; tower erection. - Energy and heavy industrial: atomic/nuclear energy operations; offshore oil/gas; oil refining. - Mining and subaqueous work: coal mining; underground mining; subaqueous work; dam or lock construction; dike construction. - Explosives and fireworks: blasting agents; explosives or ammunition manufacturing; fireworks manufacturing and fireworks exhibitions. - Hazardous manufacturing: chemical blending or manufacturing; pharmaceutical or surgical goods manufacturing. - Other: long haul operations (long‑haul transportation), U.S. Armed Forces civilian employees, wrecking of buildings and structures. Declined / restricted account characteristics (apply across classes): - Significant prior cancellations for non‑payment of premium or non‑compliance. - Contracting risks generating manual premium under $1,000. - Contractors providing only supervisory personnel (NCCI class code 5606). - Adverse loss experience beyond underwriting tolerance. - Extensive use of uninsured subcontractors or independent contractors. - Temp agencies providing temporary workers unless placements are clerical only. - Accounts with extensive use of volunteers may be declined at underwriter’s discretion. - Accounts without employees or payroll. Geographic notes: - Core market is New Mexico employers; rates and rules follow NCCI manuals for New Mexico. - An "NMM Out of State Fact Sheet" is provided as an underwriting resource, and the producer guide references an out‑of‑state carrier partner (WCF Insurance) via Marketing for out‑of‑state placements. Producers should coordinate any multi‑state exposure or out‑of‑state needs with Marketing/Underwriting. Submission & underwriting process (agents/producers): - All WC submissions must be entered through New Mexico Mutual’s PolicyCenter system. New Mexico Mutual underwrites and approves all submissions. - Additional submission data such as loss runs, experience mod worksheets, and completed EZ Quote forms may be uploaded in PolicyCenter or emailed/faxed directly to the assigned underwriter. - To support fast quotes and competitive pricing, submissions should include: complete description of operations, accurate ownership information, safety controls, detailed loss runs, and ex‑mod worksheets. - EZ Quote Underwriting Program is available but not mandatory; industry‑specific EZ Quote forms (alarm/security, auto shop & dealers, contractors, farm & ranch, healthcare, hospital, hospitality, manufacturing, municipalities, oil & gas, restaurant, salvage/garbage/refuse, social services, transportation) help clarify required data and speed turnaround. Binding authority & issuance: - Producers have limited binding authority on small accounts via PolicyCenter. For larger accounts, there is no binding authority until underwriting approval. - Once underwriting approves, the producer may bind on the Payment screen in PolicyCenter after "Print Quote" is selected; the system generates a binder valid for 30 days from the effective date. - Policy issues once the required down payment is received. All required binding documents must be uploaded, faxed, or emailed to the underwriter. Required new‑business items (within 5 business days of binding): - Signed application. - Down payment. - Signed deductible election form (if deductible applied). - Applicable ownership exclusion forms (partners, sole proprietors, LLC members, corporate officers electing exclusion). Policy changes / endorsements (producer notes): - All policy changes require underwriting approval and must be submitted through PolicyCenter; some changes must be effective at policy inception, others can be mid‑term. - Waiver of Subrogation (WC waiver) is available on an individual or blanket basis; fully earned charge of $250 per policy term. - Alternate Employer Endorsement is available; fully earned charge of $25 per policy term. - TRIPRA terrorism charge applies to all policies, rated per payroll under endorsement WC 00 04 22 A. Deductible options: - Small deductible program: typical options of $500, $1,000, $1,500, $2,000, $2,500, $5,000, and $10,000, subject to relationship with premium (standard premium generally at least ~2.5x the deductible). Changes only at policy inception. - Large deductible program: combined self‑insurance/insurance structure with deductibles from $15,000 up to $250,000 per claim; minimum standard premium of $100,000, unrestricted letter of credit, financial statements, security deposit, and at least 30 days lead time. Large‑deductible plans are individually underwritten, require management approval, and are not eligible for schedule credit. Owner/partner treatment and elections: - Follows New Mexico Workers’ Compensation Act; producers must obtain appropriate signed and (where required) notarized election or exclusion forms for partners, sole proprietors, LLC members and corporate officers. Broker / producer administration: - Each agency location is assigned a dedicated underwriter; contact info is in PolicyCenter or via Marketing. - Multiple submissions: if multiple agencies submit the same account, New Mexico Mutual issues identical quotes; the first agency to secure signed application plus down payment is recognized as Broker of Record. - If an account was declined in last 60 days and new information supports a quote, the originally declined agency receives the quote; New Mexico Mutual does not disclose competing agency information. - BOR changes: a signed ACORD BOR (by owner/officer and new broker) prior to renewal effective date transfers renewal commissions. Mid‑term BOR changes allow the new agency to service the account but not receive current‑term commission; commissions switch at the next renewal. - Agency appointment: producers must be appointed with New Mexico Mutual (valid NM agent license, completed application, E&O coverage). Annual E&O declarations must be provided to Marketing. Operational notes: - New Mexico Mutual does not issue or retain certificates of insurance; agents/insureds handle certificates. - All cancellations and reinstatements are subject to underwriting review; short‑rate may apply where coverage is replaced elsewhere. Reinstatement without lapse generally limited to short cancellations (15 days or less) at underwriter discretion. Use cases for field/placement: - Use NMM as a primary WC market for New Mexico domiciled employers needing standard or near‑standard workers comp, including a wide variety of middle‑market and small commercial classes. - Avoid submitting excluded classes/characteristics above unless you have discussed a specific exception with the assigned underwriter. - For multi‑state or out‑of‑state exposure, coordinate early with Marketing/Underwriting and reference the NMM Out of State Fact Sheet and any partner‑carrier arrangements.