New Mexico Senate Democrats have announced the passage of Senate Bill 81, a bipartisan measure designed to protect residents affected by recent wildfires. The bill was passed with a 34-1 vote in the state Senate, as said in a press release on March 8, 2025.
Senate Bill 81, sponsored by Senator Peter Wirth and Representative Harlan Vincent, aims to improve access to property insurance in high-risk areas by expanding the New Mexico FAIR Plan. According to the press release, this initiative was developed in collaboration with the Office of Superintendent of Insurance and seeks to assist homeowners and businesses in securing coverage when traditional insurers decline due to wildfire and other natural disaster risks. The FAIR Plan, originally established in 1969, provides Actual Cash Value coverage for those unable to obtain insurance elsewhere.
The proposed updates include raising coverage limits to reflect rising rebuilding costs, increasing the residential cap to $750,000 and the commercial cap to $2 million. The bill also introduces mitigation measures intended to reduce future wildfire damage and improve the program’s long-term viability. With wildfires becoming more frequent, these changes aim to ensure that affected residents can rebuild. According to the press release, Senate Bill 81 now moves to the House of Representatives for further review.
"With devastating wildfires and the increasing costs of rebuilding, it's imperative that we modernize the protections available to New Mexicans living in high-risk areas," said Senate Majority Leader Wirth. "The passage of this bill represents a critical step in ensuring that our residents and businesses have access to adequate coverage when they need it most."
The New Mexico Senate Democrats are led by Wirth as Majority Floor Leader for District 25 (Santa Fe), Mimi Stewart as Senate President Pro Tem for District 17 (Bernalillo), Michael Padilla as Majority Whip for District 14 (Bernalillo), and Leo Jaramillo as Majority Caucus Chair for District 5 (Los Alamos, Rio Arriba, Sandoval, and Santa Fe), according to their website.
