New Mexico § 59A-17-16 Requirement for supporting information

New Mexico Statutes

§ 59A-17-16 — Requirement for supporting information

New Mexico·Ch. 59A Insurance Code·Art. 17 Insurance Rates and Rating

A. By rule, the superintendent may require the filing of supporting data as to any or all kinds or lines of insurance or subdivisions thereof or classes of risks or combinations thereof as the superintendent deems necessary for the proper functioning of the rate monitoring and regulating process. The supporting data shall include:

(1)the experience and judgment of the filer and, to the extent it wishes or the superintendent requires, of other insurers or advisory organizations;

(2)its interpretation of any statistical data relied upon;

(3)descriptions of the actuarial and statistical methods employed in setting the rates; and (4) any other relevant matters required by the superintendent. B. Whenever a filing is not accompanied by the information as the superintendent has required under

Free access — add to your briefcase to read the full text and ask questions with AI

A. By rule, the superintendent may require the filing of supporting data as to any or all kinds or lines of insurance or subdivisions thereof or classes of risks or combinations thereof as the superintendent deems necessary for the proper functioning of the rate monitoring and regulating process. The supporting data shall include: (1) the experience and judgment of the filer and, to the extent it wishes or the superintendent requires, of other insurers or advisory organizations; (2) its interpretation of any statistical data relied upon; (3) descriptions of the actuarial and statistical methods employed in setting the rates; and (4) any other relevant matters required by the superintendent. B. Whenever a filing is not accompanied by the information as the superintendent has required under Subsection A of this section, the superintendent may inform the insurer and the filing shall be deemed to be made when the information is furnished.

New Mexico § 59A-17-16 (Requirement for supporting information) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.