Yesterday our HOA Board, met with other HOA Boards in the area, along with the OSI,
(Office of Superintendent of Insurance) from Santa Fe.
The OSI was here to discuss changes coming in the Insurance industry. With the recent
Wildfires and flooding, Insurance Companies are either no longer writing new insurance
Policies, or they are requiring homeowners to comply with new hazard reduction
Requirements, in order to obtain insurance.
There is a new Standard being considered called IBHS. It is being currently used in
Oregon and California, and if the homeowners comply with it, they can qualify for continued
Homeowners insurance coverage.,
New Mexico is considering and hoping to be able to adopt this Standard so homeowners
In the area can continue to obtain insurance from the Private Sector.
My questions for you, our newer homeowners in the valley is
Was it difficult for you to obtain homeowners insurance here?
Were you denied insurance by local carriers?
Did any of the insurance companies mention hazard standards compliance, prior to
Insuring your home?
We are trying to assess the current insurability of homes here in RRVE based on the
Recent experience of homeowners like yourself.
Your voluntary reply to the questions above will help us understand the current
Insurance market better.
Your help would be greatly appreciated in this matter.
Bobby Smart - RRVE ARC Committee
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