New Mexico Register / Volume XXIX, Issue 4 / February
27, 2018
NOTICE OF PROPOSED RULEMAKING
NOTICE
IS HEREBY GIVEN that the Superintendent of Insurance
(“Superintendent”), and the New Mexico Office of Superintendent of Insurance
(“OSI”), pursuant to the New Mexico Insurance Code, Section 59A-1-1 et seq. NMSA 1978 (“Insurance Code”),
proposes an amended rule pertaining to actuarial opinion and memoranda for all life
insurers and fraternal benefit societies doing business in New Mexico and for
all life insurers and fraternal benefit societies that are authorized to
reinsure life insurance, annuities, or accident and health insurance business
in New Mexico to be codified in the New Mexico Administrative Code, 13.2.6. NMAC – Insurance Company Licensing and Operation – Actuarial
Opinion and Memoranda.
The purpose of this amended rule is to
provide examples of interim results that may be of significant concern to the
appointed actuary when providing comments in the Regulatory Asset Adequacy
Issues Summary. This proposed amended rule adopts the 2010 version of the
National Association of Insurance Commissioners Model Regulation Act #822:
“Actuarial Opinion and Memorandum.” Statutory authority for this rule derives from
the Superintendent’s powers under Section 59A-2-9 NMSA 1978.
The proposed rule may be found on the OSI website at http://www.osi.state.nm.us/, under the “Rulemaking” tab and is incorporated by reference into this NOPR. A copy of the full text of the proposed amended rule is available by electronic download from the OSI website or the New Mexico Sunshine portal, or by requesting a copy in person at the NM Office of Superintendent of Insurance, 1120 Paseo de Peralta, Santa Fe, NM 87501.
The Superintendent will hold a public comment hearing beginning at 9:30 a.m. on Friday, March 30, 2018, at the NM Office of Superintendent of Insurance, Fourth Floor Conference Room, PERA Building, 1120 Paseo de Peralta, Santa Fe, New Mexico.
OSI
staff, all insurers, licensees, insurance business entities, other persons
transacting insurance business in New Mexico, and the members of the public are
encouraged to provide comments or file any written proposals or comments
according to the criteria and schedule set forth as follows: (a) oral comments
will be accepted at the public hearing from any interested parties; (b) written
statements, proposals or comments may be submitted for the record, in lieu of
providing oral testimony at the hearing are due no later than 4:00 p.m. on Thursday March 29, 2018.
Written responses may be submitted for the record
following the hearing and are due no later than 4:00 pm on Friday, April 6, 2018.
The
Superintendent will consider all oral comments, and will review all timely
submitted written comments and responses. The record shall be closed at 4:00
p.m. on Friday, April 6, 2018.
Any
person with a disability requiring special assistance in order to participate
in a hearing should contact Melissa Martinez, at 505-476-0333 at least 48 hours
prior to the commencement of the hearing.
Written
comments, proposals, or responsive comments may be submitted via email to
mariano.romero@state.nm.us or may be filed by sending original copies to:
OSI
Records & Docketing, NM Office of Superintendent of Insurance
Attention:
Mariano Romero, Room 331
1120
Paseo de Peralta, P.O. Box 1689, Santa Fe, NM 87504-1689 Docket
No. 18-00014-RULE-LH
Only
signed statements, proposals or comments will be accepted. Scanned or facsimile signatures or electronic
signatures conforming to federal and state court requirements will be accepted
with the understanding that if there is any dispute regarding a signature, OSI
reserves the right to require that original signatures be provided to verify
the electronic or facsimile signature.
All filings must be received between the hours of 8:00 a.m. and 4:30
p.m. Monday through Friday except on state holidays. Any filings after 4:30 will be filed to the
docket the next business day.
DONE AND ORDERED this 15th day of February, 2018.
S/JOHN G. FRANCHINI