Nevada Administrative Code

NAC 616B.537 Required security deposit: Determination of amount; adjustment by Commissioner. (NRS 616B.353, 616B.446, 679B.130) 1. The Commissioner will determine the amount of security an association must deposit pursuant to paragraph (d) of subsection 1 of NRS 616B.353 by calcu…

NAC 616B.540 Required security deposit: Form; priority of payment in case of loss; administration of certain securities. (NRS 616B.353, 616B.446, 679B.130) 1. Except as otherwise provided in paragraph (e) of subsection 1 of NRS 616B.353, an association shall satisfy the requireme…

NAC 616B.543 Required security deposit: Requirements for letter of credit. (NRS 616B.353, 616B.446, 679B.130) 1. A letter of credit deposited pursuant to NAC 616B.540 must: (a) Include a statement that no document other than the demand for payment under the terms of the letter is…

NAC 616B.546 Required security deposit: Records; maintenance and review of lists of claims; costs of administration. (NRS 616B.353, 616B.446, 679B.130) An association shall maintain such records as are necessary to document that it maintains an adequate amount for a security depo…

NAC 616B.549 Deposit of bond by third-party administrator of association; maximum amount of bond; filing of statement regarding association’s money. (NRS 616B.353, 616B.446, 679B.130) 1. Except as otherwise provided in subsection 2, a third-party administrator of an association s…

NAC 616B.552 Deposit of bond by association’s administrator; minimum and maximum amount of bond; filing of statement regarding association’s money. (NRS 616B.353, 616B.446, 679B.130) 1. Except as otherwise provided in subsection 2, an association’s administrator shall deposit wit…

NAC 616B.555 Financial statement by each member: Submission; inspection; exception. (NRS 616B.404, 616B.446, 679B.130) 1. Except as otherwise provided in subsection 3, each approved member of an association shall, within 120 days after the close of the fiscal year of the member, …

NAC 616B.558 Administration of program of self-insurance by association. (NRS 616A.400, 616B.446, 679B.130) 1. An association shall at all times maintain adequate resources for the administration of its program of self-insurance. After the program is established, the adequacy of …

NAC 616B.564 Annual report: Filing; signature; failure to file. (NRS 616B.446, 679B.130) 1. As a condition to the continuance of its certification, an association must file, on forms supplied by the Commissioner, a report on claims filed with the association in the previous fisca…

NAC 616B.567 Report and evaluation of estimated expenditures for claims in annual report; calculation of reserve for reopened claims. (NRS 616B.446, 679B.130) 1. An association shall calculate the estimated expenditure for each claim reported in the annual report on claims. The e…

NAC 616B.572 Purchase of annuity for payment of claim. (NRS 616B.446, 679B.130) 1. Except as otherwise provided in subsection 10, an association may purchase an annuity payable to an employee who has filed a claim pursuant to chapters 616A to 617, inclusive, of NRS, or to the emp…

NAC 616B.573 Payment of claim with immediately negotiable instrument. (NRS 616B.446, 679B.130) 1. An association shall issue all payments for claims, including payments made pursuant to an annuity, on instruments that are immediately negotiable in this State pursuant to NRS 687B.…

NAC 616B.575 Withdrawal of certificate: Continuing jurisdiction; reports; audits. (NRS 616A.400) 1. After the withdrawal of a certificate, the Commissioner and Administrator retain jurisdiction over injuries sustained during the period of self-insurance until all liabilities and …

NAC 616B.576 Account for Insolvent Associations: Annual assessment; notice of assessment; exceptions. (NRS 616B.443, 616B.446, 679B.130) 1. Except as otherwise provided in subsection 3, an association shall pay to the Commissioner for deposit in the Account for Insolvent Associat…

NAC 616B.579 Account for Insolvent Associations: Additional assessment; notification by mail; failure to pay; exception. (NRS 616B.443, 616B.446, 679B.130) 1. Except as otherwise provided in subsection 4, if the Commissioner determines that the balance in the Account for Insolven…

NAC 616B.582 Account for Insolvent Associations: Use; reimbursement by association. (NRS 616B.443, 616B.446, 679B.130) 1. If an association fails to pay any compensation due under chapters 616A to 617, inclusive, of NRS because it is insolvent, the Commissioner may use the money …

NAC 616B.588 Submission of reports and financial statements. (NRS 616B.404, 616B.446, 679B.130) 1. During its first 2 years of operation, an association shall submit to the Commissioner a quarterly report concerning the losses of the association. The report must contain a stateme…

NAC 616B.591 Examinations and audits. (NRS 616B.395, 616B.410, 616B.446, 679B.130) The Commissioner may contract with a person to conduct the examinations and audits of associations required by NRS 616B.395 and 616B.410, respectively. The person appointed shall conduct the examin…

NAC 616B.594 Calculation of annual assessment paid by each member of association. (NRS 616B.353, 616B.407, 616B.446, 679B.130) If an association has received approval from the Commissioner pursuant to subsection 2 of NRS 616B.407 to calculate the annual assessment required to be …

NAC 616B.597 Responsibilities of board of trustees; financial condition of association; financial condition of member. (NRS 616B.365, 616B.446, 679B.130) In the performance of their duties, the members of the board of trustees of an association are fiduciaries to the association …

NAC 616B.598 Requests for approval of declaration of dividend and for approval of distribution of dividend. (NRS 616B.446, 679B.130) 1. An association must submit a request for approval of a declaration of a dividend to the Commissioner not less than 30 days before the proposed d…

NAC 616B.600 Insolvency of association. (NRS 616B.422, 616B.443, 616B.446, 679B.130) If an association is deemed to be insolvent pursuant to NRS 616B.422, the Commissioner may: 1. Invoke the provisions of the indemnity agreement executed by each member of the association; 2. Use …

NAC 616B.603 Determination and consideration of loss ratio. (NRS 616A.400, 616B.386, 616B.446, 679B.130) Except as otherwise provided in this section, an employer with a loss ratio of 115 percent or higher under any program or contract of insurance for workers’ compensation may n…

NAC 616B.609 Requirements of audited statement of financial condition of association. (NRS 616B.404, 616B.446, 679B.130) The audited statement of the financial condition of an association required by NRS 616B.404 must be: 1. Prepared in accordance with generally accepted accounti…

NAC 616B.610 Determination of combined net cash flows of all members. (NRS 616B.353, 616B.386, 616B.446, 679B.130) For the purpose of determining combined net cash flows pursuant to paragraph (b) of subsection 2 of NRS 616B.353, subparagraph (2) of paragraph (b) of subsection 5 o…

NAC 616B.612 Contents of bylaws of association. (NRS 616B.446, 679B.130) The bylaws of an association must provide: 1. For review by the board of trustees, at least annually, of the financial condition of each member of the association; 2. For prompt notification to all members i…

NAC 616B.620 Policy of industrial insurance: Approval and modification of forms. (NRS 616B.030, 679B.130) 1. Except as otherwise provided in subsection 2, an insurer shall file with the Commissioner for approval each form for a policy of industrial insurance that the insurer inte…

NAC 616B.622 Policy of industrial insurance: Use of policy. (NRS 616B.030, 679B.130) Each private carrier shall use the basic policy of industrial insurance prescribed by the Commissioner pursuant to NRS 616B.030. (Added to NAC by Comm’r of Insurance by R111-98, 3-12-99, eff. 7-1…

NAC 616B.623 Policy of industrial insurance: Determination of unearned or earned premium when policy cancelled before anniversary date or written for less than 12 months. (NRS 616B.030, 679B.130) 1. To determine the unearned premium that must be returned to an employer or the ear…

NAC 616B.624 Approval of organization or association of employers as group. (NRS 616B.036, 679B.130) 1. Except as otherwise provided in subsection 2, to obtain approval as an organization or association of employers as a group pursuant to NRS 616B.036, the organization or associa…

NAC 616B.626 Combining experience for certain purposes. (NRS 679B.130) A private carrier may combine the experience of the members of an organization or association of employers as a group for which the private carrier provides industrial insurance for the purposes of: 1. Paying …

NAC 616B.680 Definitions. (NRS 232.680, 616A.400) As used in NAC 616B.680 to 616B.740, inclusive, unless the context otherwise requires, the words and terms defined in NAC 616B.683 to 616B.698, inclusive, have the meanings ascribed to them in those sections. (Supplied in codifica…

NAC 616B.683 “Annual disbursements” defined. (NRS 232.680, 616A.400) “Annual disbursements” means the sum of all payments for compensation made in a fiscal year from: 1. The Uninsured Employers’ Claim Account; and 2. The Subsequent Injury Accounts. (Added to NAC by Dep’t of Indus…

NAC 616B.686 “Annual expenditures for claims” defined. (NRS 232.680, 616A.400) “Annual expenditures for claims” means: 1. For assessments for fiscal years before fiscal year 1999-2000, the total amount of money actually paid for compensation in a fiscal year, including those cost…

NAC 616B.689 “Expected annual disbursements” defined. (NRS 232.680, 616A.400) “Expected annual disbursements” means an estimate of the sum of all payments to be made for compensation in a fiscal year from: 1. The Uninsured Employers’ Claim Account; and 2. The Subsequent Injury Ac…

NAC 616B.692 “Expected annual expenditures for claims” defined. (NRS 232.680, 616A.400) “Expected annual expenditures for claims” means an estimate of the total amount of money to be paid for compensation in a fiscal year for injuries occurring on or after July 1, 1999, including…

NAC 616B.695 “Insurer” defined. (NRS 232.680, 616A.400) “Insurer” includes: 1. A self-insured employer; 2. An association of self-insured public employers; 3. An association of self-insured private employers; 4. A private carrier; and 5. An employer who provides accident benefits…

NAC 616B.698 “Program of self-insurance” defined. (NRS 232.680, 616A.400) “Program of self-insurance” means the program established pursuant to chapters 616A to 617, inclusive, of NRS for which an employer is issued a certificate of qualification as a self-insured employer or an …

NAC 616B.701 Estimated annual assessment. (NRS 232.680, 616A.400) The Division will determine the estimated annual assessment to be made against each insurer in order to defray the: 1. Costs and expenses of administering the program of workers’ compensation and safety; and 2. Amo…

NAC 616B.704 Records and reports. (NRS 232.680, 616A.400) 1. Each insurer shall maintain records in this State of annual expenditures for claims, including, without limitation: (a) Copies of checks issued; (b) Registers of checks issued relating to claims for workers’ compensatio…

NAC 616B.707 Consideration of expenditures as expenditures for claims; computation and reporting of value of clinical services. (NRS 232.680, 616A.400) 1. The Division will consider expenditures for the following as expenditures for claims: (a) A surgeon, assisting surgeon, anest…

NAC 616B.710 Calculating annual expenditures for claims. (NRS 232.680, 616A.400) In calculating his or her annual expenditures for claims, an insurer shall: 1. Reduce the expenditures for claims by an amount equal to the amount of money received from subrogation or reimbursement …

NAC 616B.713 Statement of amount of expenditures for claims; amount to be used as source for determining annual expenditures for claims. (NRS 232.680, 616A.400) 1. Except as otherwise provided in NAC 616B.7755, an insurer shall provide to the Division a statement showing the amou…

NAC 616B.716 Estimate of annual expenditures for claims. (NRS 232.680, 616A.400) If the amount of annual expenditures for claims paid by any insurer is not provided to the Division within the required time, the Division will estimate that amount in order to calculate the assessme…

NAC 616B.719 Calculation of expected annual expenditures for claims. (NRS 232.680, 616A.400) 1. Except as otherwise provided in NAC 616B.7761, the amount of the expected annual expenditures for claims of an insurer is the annualized average of his or her expenditures for claims m…

NAC 616B.722 Calculation of estimated annual assessment. (NRS 232.680, 616A.400) 1. The amount of the estimated annual assessment made against each insurer to be used to defray: (a) The administrative costs of the office of the Administrator, office of Legal Counsel, Administrati…

NAC 616B.725 Pro rata assessment. (NRS 232.680, 616A.400) 1. The estimated annual assessment to be made against an insurer for a portion of a fiscal year may be calculated by the Division. 2. A statement of such an assessment may be issued to the insurer by the Division. (Added t…