N.M. Admin. Code § 13.8.2.28

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

Section 13.8.2.28 - NONCOMPETITIVE MARKETS

A. The following markets lack a reasonable degree of competition and are therefore subject to the filing and prior approval requirements of Paragraph B of Section 59A-17-9 NMSA 1978:

(1) farmowners multiple peril, due to the concentration of market share within a relatively small number of competitors as well as the increasing dominance of its largest writer;

(2) medical professional liability, due to its concentration of market share among relatively few competitors as well as the increasing dominance in recent years of its largest writer;

(3) credit, due to its concentration of market share among relatively few competitors; or

(4) mortgage guaranty, due to the dominance of market share maintained by two competitors, the infrequent entry and exit of competitors, and the relatively low number of competitors for the market's premium volume.

B. The determination of noncompetitive markets in Subsection A of 13.8.2.28 NMAC shall expire on October 1, 2010.

N.M. Admin. Code § 13.8.2.28

13.8.2.28 NMAC - N, 10-1-07