Pooling of closed blocks of business.

  1. Law
  2. New Mexico Statutes
  3. Insurance Code
  4. The Insurance Contract
  5. Pooling of closed blocks of business.

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For the purpose of determining the rate of any policy within a closed block of business, the superintendent may require an insurer to pool the experience of a closed block of business with all appropriate blocks of business that are not closed in accordance with Section 59A-18-13.1 NMSA 1978. An insurer shall not apply a rate penalty or surcharge beyond that which reflects the experience of a pool combined in accordance with this section.

History: Laws 2011, ch. 144, § 9.

ANNOTATIONS

Effective dates. — Laws 2011, ch. 144, § 14 made Laws 2011, ch. 144, § 9 effective January 1, 2012.


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