All Roll Calls
Yes: 63 • No: 0
NevadaAB37683rd Regular Session (2025)HouseWALLET
AN ACT relating to insurance; requiring the Commissioner of Insurance to establish and administer the Regulatory Experimentation Program for Insurance Product Innovation; setting forth requirements for the operation of the Program; authorizing certain property insurers to file a proposed increase in a rate for certain lines of insurance through a program of flex-rated filing; revising requirements relating to insurance coverage for the peril of wildfire; revising certain requirements for reciprocal insurers; revising provisions relating to captive insurers; revising requirements relating to insurance coverage for common-interest communities; and providing other matters properly relating thereto.
Sponsored By: Jill Dickman (Republican), Ken Gray (Republican), PK O’Neill (Republican), Rich DeLong (Republican), Carrie Ann Buck (Republican)
Signed by Governor
BDR 57-1009
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Bill Overview
Analyzed Economic Effects
8 provisions identified: 5 benefits, 0 costs, 3 mixed.
Faster small property rate increases
Insurers can use a flex‑filing path to raise some property insurance rates. The filing may request only an increase and must stay within flex thresholds that the Commissioner sets by June 1, 2026 (overall rate impact is at least 3%). The Commissioner has 15 days to flag noncompliance; if not, the filing is approved. Increases start only at renewal and no earlier than 45 days after filing. A policyholder cannot be hit by a flex filing more than once in 12 months, and filings are blocked if recent increases exceed the thresholds. Commercial and business property lines are not allowed in this flex program.
Wildfire coverage can be separate now
Starting January 1, 2026, insurers may exclude wildfire from standard property policies. You may need to buy a wildfire‑only policy, which insurers can sell on a standalone basis or alongside a policy that excludes wildfire. The law defines wildfire and lets the Commissioner approve a different definition for a policy. Starting July 1, 2025, an association does not have to include units in its property insurance for wildfire if the association policy coordinates with or subrogates unit owners’ wildfire policies. This can shift wildfire coverage and costs to unit owners.
Rates and forms filed 30 days early
Insurers and rate organizations must file rates, proposed increases, forms, and related data with a proposed effective date at least 30 days before that date. This timeline supports review before changes take effect. The rule starts January 1, 2026.
More detail on health plan hikes
When an insurer files a health plan rate increase, it must include a unified rate review template, a written justification, and supporting documents. This applies to health benefit plans starting January 1, 2026.
HOAs can insure through captives
Starting July 1, 2025, homeowners and unit‑owners’ associations can join sponsored captive insurers if their losses are limited to their pro rata share of protected cell assets. Association captive insurers owned by an HOA or unit‑owners’ association may insure the risks of individual homeowners or unit owners.
Limits on medical liability rate hikes
For professional liability insurance covering practitioners licensed under NRS 630, 631, 632, or 633, insurers cannot justify rate hikes using investment losses or losses from criminal or fraudulent acts by their own staff. The Commissioner must reject increases that rely on those factors. This applies starting January 1, 2026.
Stronger reserves for reciprocal insurers
Starting January 1, 2026, reciprocal insurers must keep unearned premium reserves of at least 50% of net written premiums for policies with one year or less to run, plus pro rata for longer terms. If that total is under $100,000, they must hold cash or securities to reach $100,000. The Commissioner applies set asset and liability rules when reviewing these insurers’ financial condition.
Test new insurance products with guardrails
The Commissioner runs a program that lets approved insurers test new property insurance products. Approvals can include exemptions from some Nevada insurance rules, but the Commissioner can narrow or condition them. Each test lasts up to 36 months, with one 12‑month extension if approved on time. Participants must keep records, share data when asked, and report any data breach quickly. Program records are confidential, and participants cannot quote exam results in ads. The Commissioner can remove a participant for violations or for threats to consumer health, safety, or welfare. A report on the program is due to the Legislature by January 1, 2029. These program sections expire on January 1, 2030.
Sponsors & Cosponsors
Sponsors
Jill Dickman
Republican • House
Ken Gray
Republican • House
PK O’Neill
Republican • House
Rich DeLong
Republican • House
Carrie Ann Buck
Republican • Senate
Cosponsors
Danielle Gallant
Republican • House
Roll Call Votes
Senate vote • 6/2/2025
Final Passage - Senate (2nd Reprint)
Yes: 21 • No: 0
House vote • 5/27/2025
Final Passage - Assembly (1st Reprint)
Yes: 42 • No: 0
Actions Timeline
Chapter 423.
6/9/2025legislatureApproved by the Governor.
6/9/2025legislatureEnrolled and delivered to Governor.
6/5/2025legislatureSenate Amendment No. 930 concurred in. To enrollment.
6/2/2025HouseIn Assembly.
6/2/2025HouseRead third time. Passed, as amended. Title approved. (Yeas: 21, Nays: None.) To Assembly.
6/2/2025SenateTaken from General File. Placed on General File for next legislative day.
6/1/2025SenateTaken from General File. Placed on General File for next legislative day.
5/31/2025SenateFrom printer. To re-engrossment. Re-engrossed. Second reprint.
5/31/2025SenateRead second time. Amended. (Amend. No. 930.) To printer.
5/30/2025SenatePlaced on Second Reading File.
5/30/2025SenateFrom committee: Amend, and do pass as amended.
5/30/2025SenateRead first time. Referred to Committee on Finance. To committee.
5/27/2025SenateIn Senate.
5/27/2025SenateRead third time. Passed, as amended. Title approved, as amended. (Yeas: 42, Nays: None.) To Senate.
5/27/2025HouseFrom printer. To engrossment. Engrossed. First reprint.
5/27/2025HouseRead third time. Amended. (Amend. No. 797.) To printer.
5/26/2025HousePlaced on General File.
5/26/2025HouseFrom committee: Amend, and do pass as amended.
5/26/2025HouseRereferred to Committee on Ways and Means. Exemption effective. To committee.
4/22/2025HouseTaken from General File.
4/22/2025HouseRead second time.
4/22/2025HouseAmendment No. 440 withdrawn.
4/22/2025HousePlaced on Second Reading File.
4/22/2025HouseFrom committee: Amend, and do pass as amended.
4/22/2025House
Bill Text
As Enrolled
As Introduced
Reprint 1
Reprint 2
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