New Mexico Insurance Division Issues Wind Declaration

New Mexico’s Insurance Division has issued a catastrophe declaration for insurers and adjusters after receiving thousands of claims stemming from last week’s damaging winds.

New Mexico’s administrative codes say the division can issue a catastrophe declaration when it receives at least 1,000 claims totaling more than $5 million due to a single disaster-related incident within 72 hours.

Once a formal declaration is made, insurers must close all filed cases within 90 days. A declaration also helps expedite applications for adjuster licenses.

The declaration was signed Monday.

Last week, strong winds swept across New Mexico, resulting in scattered power outages, difficult driving conditions, down trees and roof damage that ended classes early at one Valencia County school.

Gusts of 88 mph were clocked at the base of Sandia Tram in Albuquerque.