FY27 property coverage framework
New Mexico General Services DepartmentNew Mexico- Detected
- Jul 1, 2026
- 118 days ago
- Sector
- Insurance
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THE 30-SECOND BRIEF
The FY27 Certificate of Coverage sets the risk, deductible, and reimbursement framework for all New Mexico state governmental entities’ property losses starting July 1, 2026. It clarifies what real property, vehicles, construction projects, business interruption, and special items (like drones, animals, and landscaping) are covered or excluded, plus documentation and vendor-quote requirements after a loss. Insurance, restoration, construction, IT recovery, and emergency services vendors can use this to tailor offerings, knowing when agencies must seek multiple quotes and how mitigation or extra expense costs can be reimbursed.
Document specifies claim procedures, deductible rules, construction project notifications, mitigation funding cap of $20,000 annually, and use of excess/standalone policies for some risks (fine arts, storage tanks, higher-limit drones).
From the meeting
- Meeting date
- July 1, 2026
- Agency
- New Mexico General Services Department
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