GSD INSURANCE COVERAGE LIMITS

SB 182 sets maximum insurance coverage limits for the New Mexico General Services Department's Risk Management Division. It caps property damage insurance at $500,000 and general liability insurance at $1,050,000, directly affecting state agencies that rely on this division for insurance procurement. The bill amends existing law to establish these specific dollar limits for public liability coverage, ensuring state spending on insurance remains within defined thresholds. This change applies to all state entities using the Risk Management Division's insurance services under the Tort Claims Act.