N.M. Admin. Code § 13.11.2.9

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

Section 13.11.2.9 - EXCEPTIONS TO GENERAL PROHIBITION

A. This prohibition shall not apply to aircraft liability policies, fidelity and surety policies, nuclear liability policies, marine protection and indemnity policies, or prepaid legal service plans, reinsurance policies, or self-insured retentions.

B. A legal defense offset provision otherwise prohibited in 13.11.2.8 NMAC may be included in a liability insurance policy only for the following types of risks or coverages, and only where liability limits for all liability risks and coverages under the policy are at least:

(1) $500,000:

(a) pollution and environmental impairment liability;

(b) directors and officers liability;

(c) governmental entity liability;

(d) employee benefit liability;

(e) fiduciary liability;

(f) media, publishing and advertising liability;

(g) errors and omissions liability; and

(h) professional liability, other than medical malpractice liability; or

(2) $5,000,000: any kind of commercial liability risk or coverage except:

(a) motor vehicle liability; or

(b) medical malpractice liability.

N.M. Admin. Code § 13.11.2.9

10/13/88; 13.11.2.9 NMAC - Rn, 13 NMAC 11.2.9 NMAC, 6/30/04