N.M. Admin. Code § 13.11.2.7

Current through Register Vol. 35, No. 21, November 5, 2024

Section 13.11.2.7 - DEFINITIONS

For the purpose of this rule, the following definitions apply.

A. "Legal defense costs" mean allocated attorney and all other litigation expenses that can be separately identified as arising from the defense of a specific claim.

B. "Liability insurance policy" means any insurance policy covering liability, even if it also contains other types of coverage.

C. "Self insured retention" for the purposes of this rule is an insurance program whereby the insured retains a deductible of at least $100,000 per claim for his liability exposures.

N.M. Admin. Code § 13.11.2.7

10/13/88; 13.11.2.7 NMAC - Rn, 13 NMAC 11.2.7 NMAC, 6/30/04