N.M. Admin. Code § 13.8.2.16

Current through Register Vol. 35, No. 17, September 10, 2024

Section 13.8.2.16 - OTHER COMPANY FILING METHODS FOR LIMITED MARKETS

The superintendent may authorize an insurer to make a company rate filing on any basis meeting statutory rate standards, including but not limited to ratemaking by reference to an approved New Mexico filing of another company, or any other appropriate method, where the insurer demonstrates to the superintendent's satisfaction that:

A. the predicted New Mexico premium volume for the line or part of a line of business is so minimal that development of a rate is economically unfeasible; and

B. there is a need or demand for such coverage in New Mexico which will be inadequately or uneconomically served if the filer does not file a rate and make a market in the line or part of a line of business.

N.M. Admin. Code § 13.8.2.16

7-1-97; 13.8.2.16 NMAC - Rn, 13 NMAC 8.2.16, 1-15-02