New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 8 - INSURANCE POLICIES AND RATES
Part 3 - CASUALTY, PROPERTY, TITLE AND VEHICLE INSURANCE POLICY FORMS
Section 13.8.3.11 - REQUIRED CONTENTS OF POLICIES
Current through Register Vol. 35, No. 6, March 26, 2024
No policy forms shall be filed, delivered or issued for delivery in this state unless:
A. a statement of the premium or if the insurance is of a character where the exact premium is not determinable at inception of the contract, a statement of the basis and rates upon which the premium is to be determined and paid, is expressed therein;
B. the time the insurance takes effect and terminates, if determinable, is expressed therein;
C. it purports to express therein the person or persons insured;
D. every printed portion of the text matter and any endorsement or attached paper is printed in readable and legible type;
E. the exclusions, conditions and limitations of indemnities are adequately captioned or clearly set forth in the policy or contract; and
F. every form, including riders and endorsements, is identified by a form designation, provided however, that in order that policy forms, endorsements, riders or applications which follow the standard provisions filed by a rating organization will be readily recognized as standard forms, all these forms printed for use in New Mexico shall bear a recognition designation given the standard form by the rating organization. Insurers are not precluded from also adding their own designation.
