A. A homeowner’s casualty insurance policy shall not be canceled or denied renewal because of a homeowner’s claim made as a result of damages caused by a natural disaster to the homeowner’s private residence, provided that the homeowner’s policy expressly provides for such coverage.

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B. The provisions of this section apply to all insurance carriers authorized under the Insurance Code [N.M. Stat. Ann. Chapter 59A] to transact homeowner’s casualty insurance policies. For the purposes of this section, “natural disaster” means any hurricane, tornado, storm, flood, high water, wind-driven water, earthquake, landslide, mudslide, snowstorm, drought, fire, explosion or other catastrophe that results in substantial damage to property, hardship, suffering or loss of life.