Disclosure of rating practices and renewability provisions
Known as the Small Group Rate and Renewability Act
The act spans §§ 59–59 (13 sections).
Laws 1991, ch. 153, § 7; 2019, ch. 259, § 6.
Each small employer carrier shall make reasonable disclosure in solicitation and sales materials provided to small employers of the following:
A. the provisions concerning the carriers' right to change premium rates and the factors that affect changes in premium rates; and
B. the provisions relating to renewability of coverage.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.