New Mexico Administrative Code › Title 13 - INSURANCE › Chapter 2 - INSURANCE COMPANY LICENSING AND OPERATION › Part 2 - INSURANCE HOLDING COMPANIES › Section 13.2.2.17 - FORM F

Current through Register Vol. 35, No. 13, July 16, 2024
A.
When
				required
: The ultimate controlling person of an insurer required to file
				an enterprise risk report pursuant to Section
				59A-37-30
				shall furnish the required information on Form F.
B.
Information to be furnished on Form
				F
:
(1)
Caption
: Place to
				following caption at the top of the cover page:
FORM F
ENTERPRISE RISK REPORT
(2)
Registrant/applicant
: State
				the name of the registrant or applicant filing the statement.
(3)
Other
				registrants/applicant's
: State the name and address of each insurance
				company on whose behalf, or related to which, the statement is being
				filed.
(4)
Date
:
				Provide the filing date of the statement.
(5)
Designation of agent
: State
				the name, title, address and telephone number of the individual to whom notices
				and correspondences concerning this statement should be addressed.
(6)
Enterprise risk
: The
				registrant/applicant, to the best of its knowledge and belief, shall provide
				information regarding the following areas that could produce enterprise risk as
				defined in Subsection D of Section
				59A-37-2 NMSA 1978,
				provided such information is not disclosed in the
Insurance Holding
				Company System Annual Registration Statement
filed on behalf of itself
				or another insurer for which it is the ultimate controlling person:
(a) any material developments regarding
				strategy, internal audit findings, compliance or risk management affecting the
				insurance holding company system;
(b) acquisition or disposal of insurance
				entities and reallocating of existing financial or insurance entities within
				the insurance holding company system;
(c) any changes of shareholders of the
				insurance holding company system exceeding ten percent or more of voting
				securities;
(d) developments in
				various investigations, regulatory activities or litigation that may have
				significant bearing or impact on the insurance holding company
				system;
(e) business plan of the
				insurance holding company system and summarized strategies for the next 12
				months;
(f) identification of
				material concerns of the insurance holding company system raised by a
				supervisory college, if any, in the last year;
(g) identification of insurance holding
				company system capital resources and material distribution patterns;
(h) identification of any negative movement,
				or discussions with rating agencies which may have caused, or may cause,
				potential negative movement in the credit ratings and individual insurer
				financial strength ratings assessment of the insurance holding company system
				(including both the rating score and outlook);
(i) information on corporate or parental
				guarantees throughout the holding company and the expected source of liquidity
				should such guarantees be called upon; and
(j) identification of any material activity
				or development of the insurance holding company system that, in the opinion of
				senior management, could adversely affect the insurance holding company system.
The registrant/applicant may attach the appropriate form most
				  recently filed with the SEC, provided the registrant/applicant includes
				  specific references to those areas listed in Paragraph (6) of Subsection B of
				  13.2.2.17 NMAC for which the form provided responsive information. If the
				  registrant/applicant is not domiciled in the United States, it may attach its
				  most recent audited financial statement filed in its country of domicile,
				  provided the registrant/ applicant includes specific reference to those areas
				  in Paragraph (6) for which the financial statement provides responsive
				  information.
(7)
Obligation to report
: If the registrant/applicant has not
				disclosed any information pursuant to Paragraph (6) of Subsection B of
				13.2.2.17 NMAC, the registrant/applicant shall include a statement affirming
				that, to the best of its knowledge and belief, it has not identified enterprise
				risk subject to disclosure pursuant to Paragraph (6).