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 a new rule pertaining to
creditor-placed insurance, removing OSI’s contact information from Section 20
of 13.18.3 NMAC, and to provide contact information for the New Mexico FAIR
Plan, and to remove references to LOTUS and Quattro pro as these software
programs are obsolete. This new rule is
to be codified in the New Mexico Administrative Code, 13.18.3 NMAC – Credit
Insurance – Creditor-Placed Insurance.
The purpose of this rule is to
establish guidelines within which creditor-placed insurance may be written in
this state, to regulate rates, and to prohibit unfair practices in the
transaction of creditor-placed insurance.
Statutory authority for promulgation of this rule is found at Sections
59A-2-9, 59A-12-10, 59A-16-14, 59A-16-18, 59A-17-6, 59A-17-16, 59A-17-28 and
59A-18-12 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 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 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. 18-00013-RULE-PC
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