New Mexico Workers' Compensation
Although New Mexico was the 47th state to be admitted to the Union in 1912, it has been inhabited for thousands of years. New Mexico has ancient ancestral ruins, blackened dormant volcanoes, awe-inspiring caves, white sand deserts, and towering snow-capped mountains. Little wonder the state is known as the Land of Enchantment.
The three main drivers of New Mexico’s economy are oil and gas production, tourism, and federal government operations at three major air force bases and the White Sands Missile Range. Like most states, New Mexico relies on small businesses for most of its economic activity. Around 55% of New Mexico’s workers in the private sector rely on independent businesses, which make up 95.7% of the state’s employers.  Retail trade provides the most taxable receipts to the state government followed by construction, professional, scientific and technology services, and food services.
What are the New Mexico Workers' Compensation Requirements?
How Does Workers' Compensation Work in New Mexico?
Workers’ compensation protects workers and employers from losses caused by on-the-job accidents and job-related illnesses. Some of the leading small businesses purchasing worker’s compensation insurance in New Mexico include hotels, janitorial services, auto dealers, attorneys, and manufacturers of foods and beverages.
Get Workers' Compensation Insurance in New Mexico
Interested in learning more about how EMPLOYERS can help your New Mexico business? Request a quote for workers’ compensation insurance from EMPLOYERS!
1 “Small Business Profile, New Mexico,” SBA Office of Advocacy,. www.sba.gov/sites/default/files/nm12.pdf.
2 “When must employers carry workers' compensation insurance?” State of New Mexico Workers' Compensation Administration. https://workerscomp.nm.gov/Employers-Insurance