N.M. Admin. Code § 13.7.4.6 - OBJECTIVE

This rule establishes definitions and procedures for implementing Subsection F of Section 59A-16-20 NMSA 1978 requiring all catastrophic claims to be settled within a 90-day period after the assignment of a catastrophic claim number when a catastrophic loss has been declared and subjecting insurers who fail to settle catastrophic claims within this time period to the enforcement and penalty provisions of the Insurance Code, specifically those pertaining to the Unfair Claims Practices Act.

Notes

N.M. Admin. Code § 13.7.4.6

9/15/93; Recompiled 11/30/01, Adopted by New Mexico Register, Volume XXXIV, Issue 04, February 28, 2023, eff. 3/1/2023