If for the calendar year 2000 as filed in the statistical statement, or following any even calendar year thereafter, the combined loss ratios of all insurers writing credit accident and health insurance, individual or group, does not equal or exceed ninety percent of the loss ratio stated in Paragraph (2) of Subsection B of 13.18.2.17 NMAC then the credit accident and health insurance premiums as referenced in Subsections A and B of 13.18.2.26 NMAC, Subparagraphs (a) and (b) of Paragraph (1) Subsection D of 13.18.2.26 NMAC and Subparagraphs (a) and (b) of Paragraph (2) of Subsection D of 13.18.2.26 NMAC shall be reduced by ten percent with the results rounded to the higher whole cent and shall be effective at the beginning of the next calendar year as the prima facie rate.

HISTORY OF 13.18.2 NMAC:

Pre-NMAC History: The material in this rule was previously filed with the commission of public records, state records center as:

ID 67-1, Sections 26-1-1 through 26-1-15, New Mexico Official Administrative Rules and Regulations Code filed 12/1/1967.

SCC-85-12, Insurance Department Regulation 25, Credit Life and Credit Health Insurance filed 11/4/1985.

Rule No. SCC-87-1, Insurance Department Regulation 25, Credit Life and Credit Health Insurance filed 2/4/1987.

History of Repealed Material: [RESERVED]

Other History:

Rule No. SCC-87-1, Insurance Department Regulation 25, Credit Life and Credit Health Insurance (filed 2/4/1987) was renumbered, reformatted and replaced by 13 NMAC 18.2, Credit Life and Credit Health Insurance, effective 7/1/1997.

13 NMAC 18.2, Credit Life and Credit Health Insurance (filed 5/27/1997) was renumbered, reformatted, amended and replaced by 13.18.2 NMAC, Credit Life and Credit Health Insurance, effective 12/31/2007.

13.18.2 NMAC, Credit Life and Credit Health Insurance, filed 12/31/2007 was repealed and replaced by 13.18.2 NMAC, Credit Life and Credit Health Insurance, effective 03/11/2025.

[13.18.2.45 NMAC - Rp, 13.18.2.45 NMAC, 3/11/2025]