N.M. Admin. Code § 13.17.4.9 - SMALL POLICY EXEMPTIONS
A. A
member of the agency which insures on a voluntary basis any policyholder having
$5,000 or less in annual workers' compensation premium shall be exempt from
participation in the agency to the extent approved by the New Mexico insurance
division.
B. The premium threshold
of $5,000 applies to policies issued or renewed during 1990. The agency may
file a request for an adjustment to the premium threshold with the New Mexico
insurance division. No requested adjustment shall become effective nor shall it
be used until approved by the New Mexico insurance division, at which time it
may be used.
C. The exemption
applicable to a member shall not reduce the member's assessment base below
zero.
D. Eligibility for the small
policy exemptions shall be established prior to April 1 of the following
calendar year and shall be certified by a responsible officer of the member
company. Members may apply for the small policy exemptions in the manner
prescribed by the agency and approved by the New Mexico insurance division and
may be required by the agency to provide other information as may be necessary
to verify the information contained in the application.
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