N.M. Admin. Code § 13.18.2.30 - DEVIATION CREDIBILITY TABLE

AVERAGE NUMBER OF LIFE YEARS
CREDIT LIFE	CREDIT ACCIDENT AND HEALTH PLANS RETROACTIVE AND NON-RETROACTIVE		INCURRED CLAIM COUNT	CREDIBILITY FACTOR
	14 DAY	30 Day
1	1	1	1	.00
1,800	141	209	9	.25
2,400	188	279	12	.30
3,000	234	349	15	.35
3,600	281	419	18	.40
4,600	359	535	23	.45
5,600	438	651	28	.50
6,600	516	767	33	.55
7,600	394	884	38	.60
9,600	750	1,116	48	.65
11,600	906	1,349	58	.70
14,600	1,141	1,698	73	.75
17,600	1,375	2,047	88	.80
20,600	1,609	2,395	105	.85
25,600	2,000	2,977	123	.90
30,600	2,391	3,558	153	.95
40,000	3,125	4,651	200	1.00

A. For credit life insurance, the currently charged premium rates will be considered the case rates if the single premium (or its equivalent) case rate per $100 of initial amount of insured indebtedness repayable in 12 equal monthly installments as determined by the method described herein is within 5 percent of the corresponding premium under the currently charged premium rates for the case.

B. For credit accident and health insurance, the currently charged premium rates will be considered the case rate if the case rate as determined by the method described herein is within five percent of the currently charged premium rates for the case.

C. The effective date for any rate deviation shall be no earlier than 90 days or later than 180 days after the date of approval in writing by the superintendent.

D. An upward or downward deviated single account case rate remains with the case, regardless of any change of insurers, and shall continue for a period equal to the experience period on which it was based, not to exceed three years.

E. For cases which are not of credible size, or have no experience, no deviation shall be made in the presumptive rates under these deviation procedures; except that nothing herein shall be construed as preventing any insurer from filing its rate schedules as otherwise provided in Article 25 of the New Mexico Insurance Code.

F. For purpose of this rule, if the coverage for a single creditor which qualifies as a case has been in force with the insurer for less than the experience period;

(1) the claim experience of the creditor while covered by any prior insurer shall be included to the extent necessary in determining the appropriate case ratios; and

(2) the experience considered in the determination of multiple state case rates shall be New Mexico experience unless the insurer makes the one-time election to use nationwide experience; the election to use only nationwide experience must be accompanied by a certification that the insurer uses the same nationwide basis in determining the case ratios in each state in which the case has experience; a grouping of states may be used subject to the same requirements of consistency and certification.

G. When submitting form CI-DRF as required herein, the insurer shall also file a schedule of new case rates, as determined by form CI-DRF.

H. Any request for deviated presumptive rates shall be submitted to the superintendent in the manner presented by the forms in 13.18.2.31 NMAC.

Notes

N.M. Admin. Code § 13.18.2.30

7/1/97, 3/1/98, 4/1/98, 6/1/98, 9/1/98; 13.18.2.30 NMAC - Rn, 13 NMAC 18.2.30, 12/31/07, Adopted by New Mexico Register, Volume XXXVI, Issue 05, March 11, 2025, eff. 3/11/2025