New Mexico Statutes 59A-18-3.1. Closed block of business
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As used in N.M. Stat. Ann. Chapter 59A, Article 18, “closed block of business” means a policy or group of policies that division rules identify as closed because an insurer no longer markets or sells the policy or group of policies or because the policy’s or group of policies’ enrollment has decreased.
Terms Used In New Mexico Statutes 59A-18-3.1
- policy: means any contract of insurance, indemnity, health care, suretyship or annuity between the insurer and the insured, by whatever name such contract is called, and includes all clauses, riders, endorsements and papers which are a part thereof. See New Mexico Statutes 59A-18-2