N.M. Admin. Code § 13.17.6.7 - DEFINITIONS
In addition to the definitions in the Workers' Compensation Act, NMSA 1978 Sections 52-1-1 et seq., as used in this rule:
A.
aggregate call for
experience means the requests by the WCSO to workers' compensation
carriers for summaries of payroll, premium or loss experience data;
B.
ARAP calculations means the
Assigned Risk Adjustment Program approved by the Superintendent pursuant to
NMSA 1978 Section
59A-33-10;
C.
basic manual means the Basic
Manual for Workers' Compensation and Employers Liability Insurance applicable
to New Mexico filed by the WCSO and approved by the Superintendent;
D.
experience rating means any
workers' compensation premium rating plan which provides for premium
adjustments based upon an insured's prior loss experience;
E.
final earned premium means
that premium which applies after the application of payroll audits and
retrospective rating adjustments;
F.
manual premium means the
product of payroll per $100 and the manual rate for a given classification.
Manual premium for a policy means the sum of the manual premiums for the
classification applicable to that policy;
G.
manual rate means workers'
compensation base rates filed by authorized insurers or the workers'
compensation assigned risk pool and approved by the Superintendent;
H.
qualifying classifications
means those workers' compensation classifications listed in subsection C of
13.17.6.8 NMAC;
I.
qualifying policy means a
workers' compensation or employer's liability policy the premium for which is
attributable to one or more qualifying classifications;
J.
rate service organization
has the meaning given in NMSA 1978 Section
59A-17-4;
K.
remuneration shall have the
meaning used in Rule V of the Basic Manual for Workers Compensation and
Employers Liability Insurance;
L.
standard earned premium means the premiums on which general rate
levels are set as defined in the Basic Manual for Workers'
Compensation;
M.
Workers'
Compensation Service Organization (WCSO) means either a rate service
organization licensed in accordance with NMSA 1978 Section
59A-17-19 or an advisory
organization licensed in accordance with NMSA 1978 Section
59A-17-24 that is designated by
the Superintendent of Insurance in workers' compensation matters.
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