N.M. Admin. Code § 13.8.2.7
Current through Register Vol. 35, No. 21, November 5, 2024
Section 13.8.2.7 - DEFINITIONSA. 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 supporting data developed and trended as appropriate.B. Advisory organization has the meaning given in Section 59A-17-4 NMSA 1978.C. Credible or credibility in connection with statistical data is used in conformance with generally-accepted actuarial standards.D. Commercial insurance has the meaning given in Section 59A-17-4 NMSA 1978.E. Expenses include acquisition expenses, field supervision and collection expenses, general expenses, taxes, licenses and fees.F. Filing means any submission to the superintendent to establish or revise rates.G. Line of business means a line of business as shown in the annual statement to the superintendent.H. Pure premium rate means that portion of a rate which represents the loss cost per unit of exposure, and may include loss adjustment expense.I. Regular business day means every day except Saturday, Sunday and official state government holidays.J. Regular business hours are 8:00 a.m. to 5:00 p.m., mountain standard or mountain daylight time, whichever is applicable, on regular business days; provided that regular business hours may be shortened on certain days without notice by official action of the governor or the public regulation commission.K. Supplementary rate information has the meaning given in Section 59A-17-4 NMSA 1978.L. Supporting data means data and information which justifies, supports, interprets, describes, explains or underlies any rate or supplementary rate information, including but not limited to data the superintendent requires or may require pursuant to this rule.M. Reference filing as used in 13.8.2 NMAC and in Paragraph C of Section 59A-17-9 NMSA 1978 means a filing by an insurer to adopt a legally effective filing by an advisory organization to which the insurer is a member, a subscriber or an affiliate. [See Section 59A-17-4 NMSA 1978 for additional definitions]
N.M. Admin. Code § 13.8.2.7
7-1-97; 13.8.2.7 NMAC - Rn & A, 13 NMAC 8.2.7, 1-15-02; A, 3-1-06; A, 10-1-07