13.7.4.10 NMAC

Declaration Of Catastrophe

Last amended: 2023Year: 2023Length: 73 wordsOfficial source
Upon the occurrence of an event that reasonably appears to be a catastrophe, and after receipt of the pre-declaration insurer reports required pursuant to Section 9 of this rule, the superintendent will consult with the catastrophic claims bureau as soon as practicable and will decide whether or not to declare a catastrophic loss. If the superintendent declares a catastrophic loss, then the superintendent will immediately assign a catastrophic claim number to that loss.
13.7.4.10 NMAC: Declaration Of Catastrophe | Justis AI