SENATE BILL 257

48th legislature - STATE OF NEW MEXICO - first session, 2007

INTRODUCED BY

Gay G. Kernan

AN ACT

RELATING TO HEALTH INSURANCE; REQUIRING INSURERS TO PROVIDE CLAIMS EXPERIENCE DATA TO OTHER INSURERS UPON REQUEST.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 59A-17-1 NMSA 1978 (being Laws 1984, Chapter 127, Section 299) is amended to read:

     "59A-17-1. SHORT TITLE.--[This article] Chapter 59A, Article 17 NMSA 1978 may be cited as the "Insurance Rate Regulation Law"."

     Section 2. Section 59A-17-29 NMSA 1978 (being Laws 1984, Chapter 127, Section 324) is amended to read:

     "59A-17-29. EXCHANGE OF DATA, CONSULTATION AUTHORIZED.--

          A. The superintendent [may] shall promulgate reasonable rules and plans for interchange among insurers, rate service organizations and others, of data necessary for application of rating plans.

          B. For furtherance of uniformity in administration of rate regulatory laws, the superintendent and every insurer and rate service organization [may] shall, upon request, exchange information and experience data with insurance supervisory officials, insurers and rate service organizations in other states and may consult with them as to rate making and application of rating systems."

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