N.M. Code R. § 13.17.4.9 – Small Policy Exemptions

A. A member of the agency which insures on a voluntary basis any policyholder having $5,000 or less in annual workers’ compensation premium shall be exempt from participation in the agency to the extent approved by the New Mexico insurance division.
B. The premium threshold of $5,000 applies to policies issued or renewed during 1990. The agency may file a request for an adjustment to the premium threshold with the New Mexico insurance division. No requested adjustment shall become effective nor shall it be used until approved by the New Mexico insurance division, at which time it may be used.
C. The exemption applicable to a member shall not reduce the member’s assessment base below zero.
D. Eligibility for the small policy exemptions shall be established prior to April 1 of the following calendar year and shall be certified by a responsible officer of the member company. Members may apply for the small policy exemptions in the manner prescribed by the agency and approved by the New Mexico insurance division and may be required by the agency to provide other information as may be necessary to verify the information contained in the application.
[1/1/90; 13.17.4.9 NMAC - Rn & A, 13 NMAC 17.4.9, 12/31/04]