N.M. Admin. Code § 13.8.3.9

Current through Register Vol. 35, No. 17, September 10, 2024

Section 13.8.3.9 - LIMITED EXEMPTION FROM PRIOR APPROVAL

A. A commercial insurance filing shall become effective and may be used upon filing and shall be exempt from the requirement that the filing shall be made at least sixty days before its proposed effective date and from the prior approval requirements of Section 59A-18-12 NMSA 1978 if the filing is not:

(1) for workers compensation insurance, an advisory organization filing or a company filing that deviates, in any manner other than effective date, from an approved workers compensation advisory organization filing;

(2) for medical professional liability insurance;

(3) for a market that is noncompetitive pursuant to 13.8.2.28 NMAC;

(4) a market that is reverse competitive;

(5) an assigned risk filing;

(6) for title insurance;

(7) for farm owner's insurance; or

(8) for ranch owner's insurance.

B. Filings that qualify for the limited exemption provided by Subsection A of 13.8.3.9 NMAC shall be subject to all other requirements of 13.8.3 NMAC and Chapter 59A, Article 18 NMSA 1978.

C. The filing and use of forms that do not comply with or that violate provisions of the Insurance Code or administrative rules shall be subject to the administrative penalties stated in the Insurance Code, including Section 59A-1-18 NMSA 1978.

N.M. Admin. Code § 13.8.3.9

7-1-97; 13.8.3.9 NMAC - Rn & A, 13 NMAC 8.3.9, 3-1-06; A, 10-1-07