Insurance Division Rule on False Statements Takes Effect

A rule amendment by the New Mexico Public Regulation Commission that prohibits insurers from making false or misleading statements to accountants auditing reports to the Insurance Division took effect on Thursday, according to a notice in the New Mexico Register. The change to New Mexico Administrative Code 13.2.5 governs the conduct of insurance carrier officers and directors when communicating with accountants who audit or review required reports to the commission's Insurance Division.Specifically, the rules states that no director or officer shall, directly or indirectly: Make materiall...