New Mexico Administrative Code

A. Advisory filing means any filing by a licensed advisory organization within the scope of its license, solely for informational purposes and such limited uses as provided in 13.8.2.20 NMAC. The term includes a rate filing limited to pure premium rates, supplementary rates, and …

A. Every filing shall be made by submitting it to the superintendent in accordance with 13.8.2.8 NMAC. B. Filings shall be made separately from policy form filings. C. Filings may be made by mail, courier, the national association of insurance commissioners' system for electronic…

Any pending filing may be amended, provided that the entire filing, including the amendment, shall be deemed made as of the date the amendment was filed, unless waived by the superintendent.

New Mexico Public Regulation Commission Insurance Division.

A. Separate filing: Form filings shall be made separately from rate or rate-related rule filings. Filings may be made by mail, courier, the national association of insurance commissioner's system for electronic rate and forms filing (SERFF) or in person and shall be addressed to …

No policy forms shall be filed, delivered or issued for delivery in this state unless: A. a statement of the premium or if the insurance is of a character where the exact premium is not determinable at inception of the contract, a statement of the basis and rates upon which the p…

Insurers shall not require their New Mexico insureds or applicants for insurance to make a "warranty" either expressed or implied, of any fact or allegation in the application for an insurance policy. This does not prohibit the use of the word "representations" or words of simila…

All insurers affiliated with advisory organizations shall adhere to the following procedures. A. An insurer newly affiliated with an advisory organization will be presumed to be using the forms filed by the advisory organization from the effective date of membership or subscriber…

Any pending filing may be amended, provided that the entire filing, including the amendment, shall be deemed made as of the date the amendment was filed, unless waived by the superintendent.

An insurer may satisfy its obligation to make a form filing by authorizing the superintendent of insurance to adopt on its behalf all form filings legally in effect that have been filed by an advisory organization to which the insurer is a member or a subscriber or an affiliate. …

This rule applies to policies of all property, casualty, vehicle, marine and transportation, surety and title insurance coverages that are within the scope of Chapter 59A, Article 18 NMSA 1978. [See Section 59A-18-2 NMSA 1978 for the definition of policy and Chapter 59A, Article …

Sections 59A-2-9, 59A-17-6.1, 59A-17-6.2, 59A-18-12 and 59A-18-14 NMSA 1978.

Permanent.

June 3, 1970, unless a later date is cited at the end of a section.

The purpose of this rule is to implement Sections 59A-18-12 and 59A-18-14 NMSA 1978 by specifying the requirements for property, casualty, vehicle, marine and transportation, surety and title insurance policy forms.

A. "Commercial insurance has the meaning given in Section 59A-17-4 NMSA 1978; and B. "Reference filing" means a filing by an insurer to adopt a legally effective filing by an adivsory organization to which the insurer is amember, a subscriber or an affiliate.

A. Every insurer, advisory organization, FAIR plan, pool, or joint underwriting and joint reinsurance group, association or other organization of insurers must file with the superintendent of insurance every form of policy, endorsement, rider involving the granting or exclusion o…

A. A commercial insurance filing shall become effective and may be used upon filing and shall be exempt from the requirement that the filing shall be made at least sixty days before its proposed effective date and from the prior approval requirements of Section 59A-18-12 NMSA 197…

New Mexico Public Regulation Commission Insurance Division.

Written notice of any change in the required limits of underlying coverage for an "umbrella" or "excess liability" policy shall be mailed or delivered to the insured not less than thirty (30) days prior to the expiration date of the affected policy.

An insurer shall provide written notice to its agents or its insureds of any change in policy form not less than thirty (30) days prior to the effective date of the change. Change in policy form means any change of limitation, restriction in coverage, or change in deductible.

If an insurer, upon expiration of a policy of insurance, transfers the policy to an affiliated insurer, the following notification requirements shall apply. A. For personal insurance policies, the transferring insurer shall send the insured a written notice of change of insurer. …

This rule applies to all insurers who cancel, change, or fail to renew, coverage in any policy of property and casualty insurance.

Sections 59A-2-9 and 59A-18-29 NMSA 1978.

Permanent.

February 1, 1980, unless a later date is cited at the end of a section.

The purpose of this rule is to implement Section 59A-18-29 NMSA 1978 by establishing minimum requirements for the cancellation, non-renewal or changes in coverage on all policies of property or casualty insurance issued by an insurer to an insured.

The following words and terms shall have the following meanings unless the context otherwise requires: A. "agent" means any person licensed by the superintendent to transact the insurer's business in this state; B. "casualty insurance" has the meaning given in Section 59A-7-6 NMS…

A. If a policy of insurance has been in effect for sixty (60) days or more, an insurer may cancel the policy if there has been a substantial change in the risk assumed by the insurer since the policy was issued. An insurer, to affect such cancellation, shall mail or deliver to th…

If an insurer or an agent elects not to renew a policy of insurance, the insurer or agent making such election shall mail to the insured, not less than thirty (30) days prior to the expiration date of the policy, a written notice of non-renewal. This section shall not apply to th…

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

Experience rating plans shall comply with the following standards: A. Premium and loss figures used in the calculation of experience rating plan rates must be verifiable and justifiable. Loss figures shall fairly reflect the expected value of salvage, subrogation, subsequent inju…

A. At the request of the superintendent, an insurer authorized to write any insurance in this state to which this rule applies shall submit data to the superintendent establishing the relationship of aggregated premiums actually charged to policyholders by the insurer for each li…

To determine compliance with this rule, the superintendent may order a rate compliance examination be made of any insurer to which this rule applies.

Any insurer that fails to comply with the provisions of this rule shall be subject to the penalties or sanctions provided in the Insurance Code.

A. Any new insurance program to which this rule is applicable, instituted on or after the effective date of this rule, must meet all requirements of this rule. B. Insurers must use only filed and approved programs. Insurers currently offering insurance programs to which this rule…

A. This rule applies to authorized property and casualty insurers and rate service organizations that file rates, loss costs or supplementary information with the department. B. This rule applies only to those classes of insurance (monoline or packaged) commonly known as commerci…

Sections 59A-2-9, 59A-3-6, 59A-17-5, 59A-17-16, 59A-17-17, 59A-17-28, 59A-17-29 and 59A-32-13 NMSA 1978.

Permanent.

February 1, 1995, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective April 1, 1997.

The purpose of this rule is to establish criteria for the modification of manual rates through the application of insurer rate modification plans and experience rating plans and the reporting of pertinent information concerning the utilization of such plans in order to determine …

A. "Consent to rate" means a deviation from the manual rate agreed to by both the insured and insurer. B. "Experience rating plan" means any rating plan or system whereby a manual rate for insurance is adjusted or modified based on the past loss experience of the insured. C. "Man…

Rate modification plans shall comply with the following standards: A. Rate modification plans may only be used to acknowledge variance in risk or expense characteristics. B. Rate modification plans may be based only on rating characteristics not already reflected in the manual ra…

A. Upon written application of an insured stating the reasons therefor, filed with the superintendent on a form to be prescribed by the superintendent, and upon approval of the application by the superintendent, an insurer may charge a rate in excess of that otherwise applicable …

New Mexico Public Regulation Commission Insurance Division.

This rule applies to personal insurance written by an insurer or a group of affiliated insurers authorized to do business in New Mexico or written pursuant to the FAIR Plan Act, but does not apply to commercial insurance or any other types of insurance.

Section 59A-2-9 NMSA 1978 and the Personal Insurance Credit Information Act, Chapter 59A, Article 17A NMSA 1978 (being Laws 2005, Chapter 275).

Permanent.

January 1, 2006, unless a later date is cited at the end of a section.

The purpose of this rule is to implement portions of the Personal Insurance Credit Information Act, Chapter 59A, Article 17A NMSA 1978 (being Laws 2005, Chapter 275).