New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 8 - INSURANCE POLICIES AND RATES
Part 2 - RATE FILINGS BY INSURERS AND RATE SERVICE ORGANIZATIONS
Section 13.8.2.21 - ASSIGNED RISK POOL FILINGS
Universal Citation: 13 NM Admin Code 13.8.2.21
Current through Register Vol. 35, No. 18, September 24, 2024
A. For purposes of rate filings, assigned risk plans and similar residual market plans applicable to risks not insurable through the voluntary market shall be considered and treated as if the plan were a single insurer.
B. Rates for assigned risk plans and other residual market plans may be based on:
(1) the plan's own premiums, investment
income, loss and expense data, and other statutory factors;
(2) premiums, investment income, loss and
expense data, and other statutory factors for all New Mexico risks in the line
of business as a whole; provided, that if this option is used, a reasonable,
actuarially-justified surcharge may be provided to reflect any demonstrated
difference between projected loss and expense experience for the plan and for
the line of business as a whole. Such surcharge shall be justified on the basis
of comparative loss and expense experience for at least two recent consecutive
years; or
(3) any other reasonable
method meeting statutory standards and approved by the
superintendent.
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