N.M. Admin. Code § 13.8.2.19

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

Section 13.8.2.19 - RATE MODIFICATION

A. Filings made to modify rates shall be made pursuant to 13.8.5 NMAC, Rate Modification Plans.

B. If requested by an insured, experience modifiers shall be developed and applied separately and individually to each insured legal entity in New Mexico; provided, that if past experience is unavailable for individual legal entities, and cannot be developed at reasonable cost, such request shall apply on a prospective basis only. Such request shall be made not less than 120 days prior to the proposed effective date of the individual entity rating, and shall remain in effect for at least two full rating periods.

7-1-97; 13.8.2.19 NMAC - Rn, 13 NMAC 8.2.19, 1-15-02