NM | The Office of the Superintendent of Insurance today issued Bulletin 2020-002. This bulletin provides guidance on an amendment to the Insurance Code which became effective July 1, 2019.
The bulletin amendment explains that common and ordinary marketing practices are not regarded as “consideration” or “inducement” when there is no quid pro quo arrangement and that donations to non-profit, charitable or educational organizations that are not insured by the company, agency or individual making the donation are not prohibited.
Click here to read the bulletin for further details.