New Mexico Administrative Code

Sections 59A-2-8, 59A-2-9, 59A-30-4, 59A-30-6, 59A-30-6.1, 59A-30-6.2 and 59A-30-8 NMSA 1978.

When two or more owner's policies, including leasehold owner's policies, covering the same land are: A.issued simultaneously to different insureds, the applicable owner's rate shall apply to the policy in the largest amount; or B.issued to different insureds where a policy is iss…

The premium for a loan policy insuring any mortgage granted by the owner of property subsequent to the original date of his owner's policy shall be determined by the superintendent in a title rate case. In no event shall the premium collected be less than the regular minimum prom…

When only a portion of the land previously insured is being insured by a reissue owner's policy or by a subsequent issue loan policy, or when the land previously insured is only a portion of the land being insured by a reissue owner's policy or by a subsequent issue loan policy, …

When a leasehold owner's policy is converted to a standard owner's policy and more insurance is desired or required under the standard owner's policy than was written in the leasehold owner's policy, the difference must be computed at the basic premium rates in the applicable bra…

A.For purpose of the premium discount on refinanced property pursuant to Section 59A-30-6.1 NMSA 1978, the term "same borrower" in Section 59A-30-6.1 NMSA 1978 shall have the same meaning as "insured" as defined in Paragraph 1 (D) of the conditions set forth in NM form 1. B.The t…

Permanent.

A.A loan policy may be issued to insure a construction loan mortgage if the loan policy contains the following two-year claims made limitation: "Notwithstanding any other provision of this policy, the company shall be liable only for such loss or damage insured against by this po…

In the event a proposed insured requests that a single policy be issued insuring multiple New Mexico properties that may be located in more than one county, the amount of insurance shall be allocated to each county based upon a supported amount as provided in writing by the propo…

January 1, 2021, unless a later date is cited at the end of a section.

To establish matters related to the promulgation of title insurance rates and charges.

See 13.14.1 NMAC.

The rates and charges authorized by these rules shall be established by order of the superintendent in a title rate case conducted pursuant to Subsection A of Section 59A-30-8 NMSA 1978, or as amended or supplemented by order issued after a hearing conducted pursuant to Subsectio…

No title insurer or title insurance agency shall grant more than one premium credit, reduction or discount for a single transaction, unless one original owner policy premium in the largest amount is charged; provided, however, that a simultaneous issue rate regulation may be comb…

Office of Superintendent of Insurance.

A. Each member's term on the dispute board shall be for three years, staggered per the discretion of the superintendent so that the terms of no more than two voting members shall expire concurrently. No voting member shall be permitted to serve more than two consecutive three-yea…

The advisory organization shall reimburse members for reasonable expenses connected with dispute board functions including, but not limited to, travel expenses, food and lodging. Such reimbursement may be provided as a per diem allowance. Members shall receive no other compensati…

The dispute board shall meet either in person or by teleconference at the beginning of each term for purpose of electing a chair. The chair shall be responsible for organizing the agenda of each meeting and each hearing, arranging facilities, providing notice as required, and for…

The dispute board shall meet as needed and in accordance with the provisions of state law. A. Upon receipt of a grievance, the dispute board shall schedule a hearing within sixty (60) days, unless state law mandates a shorter period. B. The dispute board shall provide written not…

A. If a dispute board member has a conflict of interest with respect to a hearing scheduled before the dispute board, a substitute shall be appointed by the chair for purposes of that particular hearing. A substitute member shall be from the same class as the member being replace…

A. The decision of the dispute board will be by majority vote of those voting members of the dispute board who are present at the hearing. A member's vote may be cast only by the member or, in the member's absence, by the member's alternate who has been designated in writing. Oth…

Review of decisions of the dispute board shall be accorded pursuant to Section 59A-17-30 B NMSA 1978. The chair of the dispute board, or the secretary appointed by the chair, shall advise each appellant in writing of his or her rights of appeal and the procedure to be followed.

This rule applies to grievances relating to experience modification factors, classification assignments and manual rules and other related matters deemed pertinent by the superintendent, as applied to specific workers' compensation insurance policies, which are to be heard by the…

NMSA 1978 Sections 59A-2-9, 59A-3-6, 59A-17-5, 59A-17-8, 59A-17-19, 59A-17-27 and 59A-17-30.

Permanent.

January 1, 1993, unless a later date is cited at the end of a section.

The purpose of this rule is to establish a workers compensation dispute board to provide a mechanism by which aggrieved parties may obtain review of the application of the rules of the workers' compensation system to their individual workers' compensation policies, and to engage …

"Advisory organization" means an entity as defined by Section 59A-17-4(A) NMSA 1978, licensed in accordance with Section 59A-17-19 NMSA 1978 and designated by the superintendent pursuant to Section 59A-17-8(A) NMSA 1978.

The superintendent shall appoint the members of the dispute board, which shall consist of five voting members, one non-voting regulatory participant and two non-voting advisors as follows: A. The one non-voting regulatory participant shall be from the staff of the office of super…

New Mexico Public Regulation Commission Insurance Division.

A. The following policies shall be eligible for take-out credit: (1) $5,000 or less in estimated standard annual workers' compensation premium as shown on the expiring policy as provided for in 13.17.4.9 NMAC; and (2) any other such policy that was an assigned risk policy immedia…

This rule applies to all workers' compensation insurers participating as reinsurers of the New Mexico Worker's Compensation Assigned Risk Pool.

Sections 59A-2-9, 59A-33-3, 59A-33-8 and 59A-33-9 NMSA 1978.

Permanent.

January 1, 1990, unless a later date is cited at the end of a section.

This rule defines the methods by which workers' compensation insurers shall participate in the Workers' Compensation Assigned Risk Pool as reinsurers. The methods of assessment are structured to promote the voluntary assumption of workers' compensation risks by workers' compensat…

When used in this rule, the agency refers to the Workers' Compensation Assigned Risk Pool as defined in Section 59A-33-4 B NMSA 1978.

A. The undertakings of any policy issued by the agency shall be fully reinsured by all members of the pool in proportion to the amount that the net direct workers' compensation line premium on the insurance written in the state during the preceding calendar year by the issuing me…

A. A member of the agency which insures on a voluntary basis any policyholder having $5,000 or less in annual workers' compensation premium shall be exempt from participation in the agency to the extent approved by the New Mexico insurance division. B. The premium threshold of $5…

New Mexico State Corporation Commission [Public Regulation Commission], Department of Insurance, Post Office Box 1269, Santa Fe, NM 87504-1269.

A. In the voluntary insurance market, a leasing contractor shall obtain or cause to be obtained workers' compensation coverage for leased workers either through individual policies issued to each client or, with the voluntary market insurer's knowledge and consent, through a stan…

A. In the assigned risk pool, a leasing contractor shall obtain or cause to be obtained workers' compensation coverage for leased workers through individual policies issued to and in the name of each client for whom the leased workers work. B. The assigned risk pool shall coopera…