Any such agreement or plan for the assignment of risks involving automobile and motor vehicle bodily injury and property damage liability insurance shall include provision for: reasonable rules governing the equitable distribution of risks by direct insurance, reinsurance or otherwise, and by the assignment of risks to insurers participating in the plan; rates and reasonable rate modifications which shall be applicable to such risks and which shall not be excessive, inadequate or unfairly discriminatory; the limits of liability which any insurer to whom a risk is assigned shall be required to assume; and a method whereby applicants for insurance, persons insured and insurers under the plan may have a hearing on grievances and the right to appeal from the decision on any such grievance to the superintendent.
History: Laws 1984, ch. 127, ยง 523.
Structure New Mexico Statutes
Article 32 - Motor Vehicle Insurance
Section 59A-32-1 - Assigned risk plan, short title.
Section 59A-32-2 - Scope of article.
Section 59A-32-3 - Purpose of assigned risk plan.
Section 59A-32-4 - Assigned risk plan.
Section 59A-32-5 - Requirements of assigned risk plans.
Section 59A-32-6 - Review of proposed assigned risk plans.
Section 59A-32-7 - Disapproval of effective assigned risk plans.
Section 59A-32-8 - Failure to file plan; assigned risk plan prescribed.
Section 59A-32-9 - Appeal to governing committee.
Section 59A-32-10 - Appeal to superintendent.
Section 59A-32-11 - Action by superintendent.
Section 59A-32-12 - Action by superintendent; review.
Section 59A-32-13 - Rules and regulations.
Section 59A-32-14 - Insurance policies; appropriate reduction in premiums.
Section 59A-32-15 - Conditions for maintaining the discount.
Section 59A-32-16 - Certificate of course completion.
Section 59A-32-17 - Exceptions.
Section 59A-32-18 - Continued eligibility.
Section 59A-32-19 - Discounts or reductions in premiums.
Section 59A-32-20 - Rental car companies; insurance coverage.
Section 59A-32-21 - Discounts for comprehensive coverage.
Section 59A-32-22 - Freedom of choice; doctor of oriental medicine.
Section 59A-32-23 - Vehicle insurance; primary liability; assignment; notice.