N.M. Admin. Code § 13.2.10.7

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.2.10.7 - DEFINITIONS

The following terms have the meaning given, unless the context otherwise requires. Other terms used in this rule have the meanings given in the New Mexico Insurance Code, the Insurance Holding Company Law, or other OSI rules.

A."Corporate Governance Annual Disclosure ("CGAD") means a confidential report submitted by an insurer or insurance group made in accordance with the requirements of this rule.

B."Insurance group" means, for purposes of this rule, those insurers and affiliates included within an insurance holding company system as defined in the Insurance Holding Company Law.

C."Insurer" has the same meaning given in the Insurance Holding Company Law.

D."Lead State" means the state where the parent company is domiciled or, if there is no insurance parent, the state where the largest (by direct written premium volume as shown by the last filed annual statement) insurance subsidiary is domiciled.

E."ORSA Summary Report" means a report filed in accordance with the National Association of Insurance Commissioners Risk Management and Own Risk and Solvency Assessment Model Act ("ORSA").

F."Senior Management" means any corporate officer responsible for reporting information to the board of directors at regular intervals or providing information to shareholders or regulators and shall include, for example and without limitation, the chief executive officer ("CEO"), chief financial officer ("CFO"), chief operations officer ("COO"), or any other chief executive.

G. "Superintendent" means the New Mexico superintendent of insurance.

N.M. Admin. Code § 13.2.10.7

Adopted by New Mexico Register, Volume XXXI, Issue 19, October 13, 2020, eff. 11/1/2020