Disclosure of rating practices and renewability provisions.

  1. Law
  2. New Mexico Statutes
  3. Insurance Code
  4. Small Group Rate and Renewability
  5. Disclosure of rating practices and renewability provisions.

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Each small employer carrier shall make reasonable disclosure in solicitation and sales materials provided to small employers of the following:

A. the provisions concerning the carriers' right to change premium rates and the factors that affect changes in premium rates; and

B. the provisions relating to renewability of coverage.

History: Laws 1991, ch. 153, § 7; 2019, ch. 259, § 6.

ANNOTATIONS

The 2019 amendment, effective June 14, 2019, revised provisions related to a small employer's duty to make reasonable disclosures, and removed language related to premium setting by claim experience, health status or class of business; deleted former Subsection A and redesignated former Subsection B as Subsection A; in Subsection A, after "factors", deleted "including case characteristics"; and deleted former Subsection C and redesignated former Subsection D as Subsection B.


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