Cooperation among advisory organizations or among organizations and insurers in rate making or in other matters within the scope of the Insurance Rate Regulation Law is hereby authorized, provided the filings resulting from the cooperation are subject to provisions of the Insurance Rate Regulation Law applicable to filings generally. The superintendent may review the cooperative activities and practices and if, after a hearing, the superintendent finds that the activity or practice is unfair or unreasonable or otherwise inconsistent with the Insurance Rate Regulation Law, the superintendent may issue an order specifying the respects in which the activity or practice is unreasonable or otherwise inconsistent with the Insurance Rate Regulation Law and requiring discontinuance of the activity or practice.
History: Laws 1984, ch. 127, § 322; 2007, ch. 367, § 27.
The 2007 amendment, effective July 1, 2007, changed "rate service organizations" to "advisory organizations".
Structure New Mexico Statutes
Article 17 - Insurance Rates and Rating
Section 59A-17-1 - Short title.
Section 59A-17-2 - Scope of article; exemptions.
Section 59A-17-3 - Purposes of article.
Section 59A-17-4 - Definitions.
Section 59A-17-5 - Administration of insurance rate regulatory law.
Section 59A-17-5.1 - Underwriting guidelines.
Section 59A-17-6 - Rate standards.
Section 59A-17-6.1 - Competitive market.
Section 59A-17-6.2 - Reverse competitive market.
Section 59A-17-7 - Rating methods.
Section 59A-17-7.1 - Motor vehicle liability; not-at-fault accidents.
Section 59A-17-8 - Making of rates; workers' compensation; rate calculations; rate classifications.
Section 59A-17-9 - Filing of rates.
Section 59A-17-11 - Filings open to inspection.
Section 59A-17-11.1 - Consumer information.
Section 59A-17-12 - Insurer must adhere to rates; consent to rate.
Section 59A-17-13 - Grounds and procedures for disapproval of rates.
Section 59A-17-13.1 - Discounts on homeowners' policies for burglary protections.
Section 59A-17-13.2 - Large commercial policyholders.
Section 59A-17-16 - Requirement for supporting information.
Section 59A-17-17 - Use of advisory organization filings.
Section 59A-17-18 - Advisory organizations; license required; obligation to provide service.
Section 59A-17-19 - Advisory organizations; licensing.
Section 59A-17-20 - Suspension, revocation of license.
Section 59A-17-21 - Conduct of advisory organization.
Section 59A-17-22.1 - Repealed.
Section 59A-17-23 - Advisory organizations; appeal by minority.
Section 59A-17-25 - Joint underwriting, joint reinsurance pool and residual market mechanisms.
Section 59A-17-26 - Binding agreements by insurers.
Section 59A-17-27 - Cooperative activities authorized.
Section 59A-17-28 - Recording, reporting of experience.
Section 59A-17-29 - Exchange of data, consultation authorized.
Section 59A-17-30 - Information to be furnished insureds; hearings and appeals of insureds.
Section 59A-17-31 - False or misleading information.
Section 59A-17-33 - Enforcement; cease and desist, injunctions; penalties.
Section 59A-17-35 - Appeals from superintendent.
Section 59A-17-36 - Rate filing; failure to submit data; penalty.