New Mexico Appointment Renewal for 2015
Key Information:
In 2015, New Mexico will again process all appointment renewals electronically through the National Insurance Producer Registry (NIPR).
- Companies may begin paying their appointment renewal invoices beginning on Monday, March 2, 2015 at 8:00 AM, CST. The appointment renewal period will run until 5:00 PM CDT on Thursday, April 30, 2015.
- A late fee of 150% of the normal invoice fee will apply to payments received between May 1, 2015 and May 29, 2015.
- Payments received after 5:00 pm CDT, May 29, 2015 will not be accepted.
- Appointments not renewed before May 29, 2015 will be cancelled by New Mexico.
- Appointment terminations can only be processed for appointments that are shown as active on the PDB at the time the termination transaction is sent to NIPR.
- Appointment terminations entered on or after February 23, 2015 will be held in the Gateway until March 3, 2015, and will not be reflected on the renewal invoice. Processing of these terminations will begin March 4, 2015.
- Appointments added on or after February 23, 2015 will not be renewed in 2015 and will not be reflected on the renewal invoice or list of appointment renewals due.
- NIPR website link is: www.nipr.com
- Payment must be for the total invoice amount.
- Appointees who are not CE compliant will not be on the renewal list.
- Motor Club company appointments are excluded from electronic appointment renewals.
- Appointments will not be renewed if payment is less than invoice total.
- New Mexico does not issue refunds.
IMPORTANT RECONCILIATION INFORMATION
- Insurance carriers with an NAIC CoCode wishing to reconcile company appointments with the state insurance department may obtain a list of appointments via the Company Appointment Report (CAR) prior to appointment renewal invoices being created. Terminations can be made through the Interactive Appointment and Termination Application. Both of these applications are available to NIPR Subscribers. If you are not a subscriber or need to verify that you are subscribed to these products, please contact NIPR at 816-783-8467 or marketing@nipr.com for subscription information. You may also utilize the services of an NIPR Authorized Business Partner http://www.nipr.com/general/business-partners.htm.
IMPORTANT PAYMENT INFORMATION
Payments for New Mexico Appointment Renewals MUST be received by NIPR through the Electronic Options made available
NOTE: NO PAPER CHECKS:
· Companies that submit a payment to NIPR via paper check will not have their renewal invoice processed and will have the payment refunded to them
· Since receipt of a paper check is through a lock box account, NIPR may take several days to post the paper check and issue a refund check to your company.
o NIPR is not responsible for any renewal late fees incurred during this period
NIPR Transaction Fees
The NIPR processing fee per invoice will equal 1% of the total state fees charged with a minimum of $5.00 and a maximum of a $1,000.00
Example:
# of appts Price Total
100 $20.00 $2000.00
Transaction fee is 1% of $2000.00 or $20.00
Late Fee Example:
# of appts Price Total
100 $30.00 $3000.00
Transaction fee is 1% of $3000.00 or $30.00
New Mexico State Appointment Renewal Fees |
March 2, 2015 |
To |
April 30, 2015 |
$20/LOA/Appointment |
May 1, 2015 |
To |
May 29, 2015 |
$30/LOA/Appointment ($20/LOA/Appointment plus $10 Late Fee) |
After May 30, 2015 |
|
|
Payments received will be refunded. (Minus NIPR fees) |
Payment Method and other Fees |
Credit Card |
No processing fee |
If you are paying by credit card (Visa, MasterCard, American Express, or Discover) the process will be entirely electronic. Please note there is a $60,000 limit on Credit Card payments. If your invoice exceeds $60,000, you must choose an alternative payment method. If you have questions regarding the other methods, please call NIPR Customer Service. An appropriate receipt will be displayed for you to print for your records. |
Electronic Check |
There are no check processing fees for utilizing the electronic check payment method but NIPR transactions fees will apply |
- A few banks or credit unions may not participate in electronic check services
- If your bank needs a pre-authorization to use this electronic check service you will need to provide your financial institution with this information: NIPR ACH-9431763793.
- There is a $25.00 returned check charge for any electronic check that does not clear the applicant’s bank. Additionally, the state will be notified if any issue with payment is not promptly resolved, possibly resulting in non-renewal of appointments or a reversal of renewals, until payment is made.
|
PayPal Account |
No processing fee |
|
NIPR processing fees are not refundable.
Process after March 2, 2015 when the electronic invoices are on the website is:
- On the internet, go to www.nipr.com.
- Click on the link to “Company Appointment Renewals” in the left-hand column.
- Click on “Continue to Appointment Renewals”.
- Read the Use Agreement and click on the “Accept” button at the bottom of the page
- Follow the links to company appointment renewals and sign-in using your company identifiers: company CoCodes, FEIN, and/or company name
- After entering information identifying you as an authorized submitter, the company appointment renewal invoice will be displayed. You can:
- Print/pay the invoice
- View the report of appointment renewals
- Print the report of appointment renewals
- Download the report as text (delimited)
- Download the Report as XML
- Help screens and customer support contacts are available.
If you have any questions regarding the appointment renewal process, contact:
- NIPR Customer Service at abpdirect@nipr.com
- New Mexico Office of Superintendent of Insurance 855-4ASK-OSI (427-5674)