N.M. Admin. Code § 13.17.6.6
Current through Register Vol. 35, No. 24, December 23, 2024
The purpose of this rule is to implement NMSA 1978 Section 59A-17-8 C directing the Superintendent of Insurance to equalize and calculate workers' compensation premium rates on a basis that does not discriminate against or penalize employers who pay higher wages than other employers to workers in the same job classification. The legislative objective is satisfied by retaining the present payroll-based system modified by the application of progressively greater premium credits to progressively higher hourly wages on policies for qualifying classifications.
N.M. Admin. Code § 13.17.6.6