New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 12 - MOTOR VEHICLE INSURANCE
Part 4 - AUTOMOBILE SELF-INSURANCE
Section 13.12.4.12 - PLAN OF OPERATIONS FOR SELF-INSURANCE PROGRAMS
Current through Register Vol. 35, No. 18, September 24, 2024
Aicant shall prepare and maintain an up-to-date, detailed plan of operations for its self-insurance program. At a minimum, such plan shall include:
A. an overview and narrative description of the proposed plan, with comments on all major aspects of operations, including administration, data and record keeping, claims, investment, reinsurance, and any other important topic;
B. a description of the structure and organization of the company, the type of company (stock, mutual, etc.), holding company, affiliates, and subsidiaries;
C. the qualifications and experience of management personnel;
D. a description of the self-insured's claims management program;
E. an explanation of the use of any management agreements, or agreements with claims adjusters or third party administrators, and any other significant contractual arrangements;
F. the names of any reinsurer(s) and descriptions of the types, terms and conditions, and cost of coverage, and the maximum retained exposure;
G. a detailed summary of the applicant's automobile premium, exposure and loss history for at least the last three (3) years;
H. an explanation of the applicant's safety and loss control program and a copy of the safety manual, if one exists; include the name of the person in charge of the safety program and vehicle inspection schedule;
I. an actuarial evaluation of the applicant's projected loss for the coming year.
