N.M. Admin. Code § 13.19.2.17

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

Section 13.19.2.17 - DOCUMENTATION AND REPORTING REQUIREMENTS

A. The producing broker shall maintain files documenting the diligent search for an authorized insurer and supporting the producing broker affidavit in accordance with Section 59A-12-21 NMSA 1978. Each producing broker who places any surplus lines insurance shall comply with the affidavit requirement of Section 59A-14-11 NMSA 1978 by providing the form prescribed in 13 NMAC 19.2.19 [now 13.19.2.19 NMAC] to the surplus lines broker within fifteen days of issuance of the policy.

B. The superintendent interprets Section 59A-14-11 NMSA 1978 to permit the surplus lines broker to substitute the declarations page of the policy for the producing broker report required by subsection A of that section. The declarations page shall be kept confidential.

C. Each surplus lines broker shall comply with the reporting and affidavit requirements of Section 59A-14-11 NMSA 1978 and shall file the following documents using the forms and electronic format prescribed in this rule:

(1) the quarterly summary report form prescribed in 13 NMAC 19.2.20 [now 13.19.2.20 NMAC];

(2) a diskette containing the following information in the following format:

Item No.	Information required	Type of field	Number of characters or format
1	Name of insurer	Text	80
2	NAIC company code or alien listing code	Text	12
3	Policy number	Text	40
4	Effective date of policy	Date	mm/dd/yyyy
5	Termination date of policy	Date	mm/dd/yyyy
6	Specific description of coverage	Text	160
7	Premium	Number	2 decimal places
8	Additional premium	Number	2 decimal places
9	Cancellation or return premium	Number	2 decimal places
10	Additional fees	Number	2 decimal places
11	Total	Number	2 decimal places
12	State tax (3% of Total)	Number	2 decimal places

(3) two copies of a printout made from the diskette, one of which will be returned to the surplus lines broker as proof of filing the report; the printout shall show totals in each number column;

(4) the declarations page of the policy attached to the producing broker affidavit for each surplus lines insurance policy written, in the order in which they appear on the diskette and printout;

(5) a check for the amount of taxes due.

D. Each surplus lines insurer shall file the following documents with the superintendent on or before March 1 of each year, using the form and the electronic format prescribed in this rule:

(1) The annual summary report prescribed in 13 NMAC 19.2.21 [now 13.19.2.21 NMAC], listing all surplus lines insurance policies written for risks in New Mexico in the preceding calendar year and indicating the surplus lines broker through whom they were placed.

(2) A diskette containing the following information in the following format:

Item No.	Information required	Type of field	Number of characters
1	Policy number	Text	12
2	Effective date of policy	Date	mm/dd/yyyy
3	Termination date of policy	Date	mm/dd/yyyy
4	Kind of insurance	Text	100
5	Zip code of insured	Text	10
6	Premium	Number	2 decimal places
7	Additional premium	Number	2 decimal places
8	Cancellation or return premium	Number	2 decimal places
9	Additional fees	Number	2 decimal places
10	Total	Number	2 decimal places
11	State tax (3% of Total)	Number	2 decimal places

(3) Two copies of a printout made from the diskette, one of which will be returned to the surplus lines insurer as proof of filing the report; the printout shall show totals in each number column.

N.M. Admin. Code § 13.19.2.17

1/1/99; Recompiled 11/30/01