New Mexico Administrative Code
Title 1 - GENERAL GOVERNMENT ADMINISTRATION
Chapter 6 - RISK MANAGEMENT
Part 2 - PREMIUM RATING FOR CERTAIN RISKS
Section 1.6.2.7 - DEFINITIONS

A. "agency" or "state agency" means the state of New Mexico or any of its branches, agencies, departments, boards, instrumentalities or institutions;

B. "average occupied beds" means the daily average number of beds occupied in a health care facility during a one-year period, as determined by the risk management division; provided that, for nursing homes, five average occupied beds shall be equivalent to one average occupied bed in any other health care facility;

C. "director" means the director of the RMD;

D. "experience" means the amount of money paid and the amount of money reserved to pay claims against an insured, including amounts paid and reserved for adjustment, defense and liability, for claims incurred during a specified period of time;

E. "exposure" means a measure of the extent of an insured's risk of loss, disregarding experience. For example, exposure is frequently measured in terms of units based on capitation (e.g., a charge for each employee or student, or a charge by population) or budget;

F. "full-time equivalent" means the total number of weekly regular hours budgeted for part-time and full-time employees of a particular class, divided by forty;

G. "local public body" means all political subdivisions of the state and their agencies, instrumentalities and institutions;

H. "RMD" means the risk management division of the general services department; and

I. "total operating budget" means the total budget for an individual entity for the current or other recent year, excluding capital expenditures.