2016 New Mexico Statutes
Chapter 59A - Insurance Code
Article 7 - Kinds of Insurance; Limits of Risk; Reinsurance
Section 59A-7-7 - "Vehicle" insurance defined.

59A-7-7. "Vehicle" insurance defined.

"Vehicle" insurance is insurance covering:

A. Physical Damage. Insurance against loss of or damage to any land vehicle or aircraft or any draft or riding animal resulting from or incident to ownership, maintenance or use of any such vehicle, aircraft or animal;

B. Public Liability and Property Damage. Insurance against any hazard or cause, and against any loss, liability or expense resulting from or incident to ownership, maintenance or use of any such vehicle, aircraft or animal;

C. Cargo. Insurance against loss of or damage to property contained in a vehicle or being loaded or unloaded therein or therefrom or incident to the ownership, maintenance or use of any such vehicle, aircraft or animal; and

D. Medical Payments. Insurance for payment on behalf of the injured party or for reimbursement of the insured for payment, irrespective of legal liability of the insured, of medical, hospital, surgical and disability benefits, to persons injured and funeral and death benefits to dependents, beneficiaries or personal representatives of persons killed as the result of an accident, resulting from or incident to ownership, maintenance or use of any such vehicle, aircraft or animal. Such coverage shall not be deemed to be "health" insurance for purposes of the Insurance Code.

History: Laws 1984, ch. 127, 113.

59A-7-7. Variable life and annuity. (Effective July 1, 2017.)

Variable life and annuity includes:

A. variable deferred annuity;

B. variable immediate annuity;

C. variable life; and

D. similar products relating to variable life and annuity matters.

History: Laws 1984, ch. 127, 113; 1978 Comp., 59A-7-7, repealed and reenacted by Laws 2016, ch. 89, 9.