N.M. Admin. Code § 13.9.6.12 - DUTIES OF INSURERS WITH RESPECT TO DIRECT RESPONSE SOLICITATION
A. In the case of
an application that is initiated as a result of a direct response solicitation,
the insurer shall require, with or as part of each completed application for a
policy or contract, a statement asking whether the applicant, by applying for
the proposed policy or contract, intends to replace, discontinue or change an
existing policy or contract. If the applicant indicates a replacement or change
is not intended or if the applicant fails to respond to the statement, the
insurer shall send the applicant, with the policy or contract, a notice
regarding replacement in
13.9.6.15 NMAC, or other
substantially similar form approved by the superintendent.
B. If the insurer has proposed the
replacement or if the applicant indicates a replacement is intended and the
insurer continues with the replacement, the insurer shall:
(1) provide to applicants or prospective
applicants with the policy or contract a notice, as described in
13.9.6.16 NMAC, or other
substantially similar form approved by the superintendent. In these instances
the insurer may delete the references to the producer, including the producer's
signature, and references not applicable to the product being sold or replaced,
without having to obtain approval of the form from the superintendent. The
insurer's obligation to obtain the applicant's signature shall be satisfied if
it can demonstrate that it has made a diligent effort to secure a signed copy
of the notice referred to in this paragraph. The requirement to make a diligent
effort shall be deemed satisfied if the insurer includes in the mailing a
self-addressed postage prepaid envelope with instructions for the return of the
signed notice referred to in this section; and
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