Self-Insurance and Regulatory Audit
The Self-Insurance and Regulatory Audit Bureau (SIRAB) is responsible for safeguarding the workers’ compensation benefits of injured workers and employers’ interests in the New Mexico Self-Insurers’ Guarantee Fund. The SIRAB monitors and examines self-insured parties’ compliance with both the New Mexico Workers’ Compensation Act and applicable regulations that govern self-insured entities.
There are three different types of self-insured entities covered under the New Mexico Workers’ Compensation Act.
Individual: (Section 11.4.8 NMAC)
An individual private company or qualifying public entity that has received approval from the WCA Director to self-insure their workers’ compensation risk and to establish the criteria to maintain such self-insured status after it is granted by the director.
General Email
Bureau Chief
Lisa Romero
Self-Insurance & Regulatory Audit Bureau Chief
(505) 841-6037
Lisa.Romero@wca.nm.gov
Group: (NMSA 1978, Section 52-6-2 (B))
“A not-for-profit unincorporated association consisting of two or more public hospital employers or private employers that are engaged in the same or similar type of business, are members of the same bona fide trade or professional association that has been in existence for not less than five years and that enter into agreements to pool their liabilities for workers’ compensation benefits; except that public hospital employers shall segregate their accounting records and investment accounts from those of private employers in accordance with applicable state law”.
Pool: (Section 11.4.10.8 (C))
“An entity, regarded as an “agency” under the State Audit Act, that provides insurance collectively to governmental entities for workers’ compensation benefits.”