N.M. Admin. Code § 13.12.4.17 - COMPLIANCE AND REPORTING REQUIREMENTS
By accepting a certificate of self-insurance, a self-insured agrees to:
A. promptly discharge all
of its liabilities and responsibilities in accordance with the requirements of
this rule;
B. notify the
superintendent within fifteen (15) calendar days in case of contemplated
liquidation, sale or transfer of ownership, or material reduction in New Mexico
operations; and arrange for the payment of all existing liability and any
disability or liability arising thereafter by guaranty bond, deposit of
securities, or otherwise, as required by the superintendent;
C. notify the superintendent within fifteen
(15) calendar days prior to making any material change in any excess insurance
policy or surety bond or other security required by the superintendent as a
condition of self-insurance;
D.
notify the superintendent within fifteen (15) calendar days of any change in
the kind or amount of services provided by any service company named in the
application;
E. promptly notify the
superintendent of any material, adverse change in its financial
condition;
F. provide full
disclosure to the superintendent, or the superintendent's agents and staff, of
all matters required to be disclosed, and to cooperate fully in any lawful
review, evaluation, examination, or audit of any matter pertaining to the
applicant's compliance with this rule or any lawful order or communication of
the superintendent;
G. notify the
superintendent within thirty (30) calendar days if there is a change of
ownership of a self-insured, and submit biographical affidavits for the new
owners;
H. meet any other
reasonable criteria deemed necessary by the superintendent to guarantee payment
of automobile claims
Notes
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