N.M. Admin. Code § 13.10.9.11 - FORMS AND RATES; RATING STANDARDS
A. All policy or plan forms, including
applications, enrollment forms, policies, plans, certificates, evidences of
coverage, riders, amendments, endorsements, and disclosure forms shall be
submitted to the department of insurance for approval prior to use.
B. No policy or plan may be issued in the
state unless the rates have first been filed with and approved by the
superintendent of insurance.
C. The
superintendent shall approve rates for individual and family policies or plans
and disapprove any rate if the benefits offered in such policies or plans are
unreasonably restricted in relation to the premium charged.
D. Rates for group policies or plans, as such
terms are defined in this rule, shall be reviewed for approval by the
superintendent in accordance with the rating standards contained in the Small
Group Rate and Renewability Act, Section
59A-23C-1 NMSA 1978, et
seq.
Notes
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