Nevada Administrative Code

NAC 680A.224 Actions that may be taken by Commissioner if insurer determined to be in hazardous financial condition; exception. (NRS 679B.130, 680A.205) 1. If the Commissioner determines that the continued operation of an insurer licensed to transact the business of insurance in …

NAC 680A.226 Hearing for review; notice. (NRS 679B.130, 680A.205) An insurer who is subject to an order of the Commissioner issued pursuant to NAC 680A.224 may request a hearing to review the order. The notice of hearing will be served on the insurer in accordance with NRS 679B.3…

NAC 680A.228 Termination or suspension of business: Rewriting insurance. (NRS 679B.130) If a company voluntarily withdraws from doing business in Nevada, has its license suspended or revoked or requires replacement of insurance with other insurers, the policies of that company ma…

NAC 680A.405 Countersignatures: Generally. (NRS 679B.130, 679B.136, 680A.300) The Commissioner will apply the provisions of chapter 719 of NRS to any countersignature that is required by NRS 680A.300. (Added to NAC by Comm’r of Insurance by R115-02, eff. 3-18-2003)

NAC 680A.410 Countersignatures: Property and casualty insurance. (NRS 679B.130, 680A.300) 1. Countersignature fees and commissions may be negotiated for services required of a countersigning producer of insurance appointed by an insurer. 2. A countersigning producer of insurance …

NAC 680B.005 “Commissioner” defined. As used in this chapter, unless the context otherwise requires, “Commissioner” means the Commissioner of Insurance. (Supplied in codification)

NAC 680B.010 Submission of form for assessing fees; time for action by Commissioner. (NRS 679B.130) 1. An insurer who submits a form for an insurance policy, rate, rider or endorsement or a broker who submits a memorandum of open lines insurance or brokers affidavit of surplus li…

NAC 680B.020 Forms for a new policy. (NRS 679B.130) In submitting the forms for a new policy, an insurer may, for a single filing fee, include any number of filings of rates and of forms for riders and endorsements which are necessary to carry out a complete program for the sale …

NAC 680B.030 Submitting several types of forms; form for waiver or other amendment. (NRS 679B.130) 1. In submitting under one letter of transmittal several types of forms which amend previously approved policies, an insurer must pay the appropriate filing fee for each type of for…

NAC 680B.040 Filing of rates. (NRS 679B.130) 1. In submitting the rates for a policy previously approved by the Commissioner, an insurer may include any number of changes to the rates and to the classifications and rules for the rates for a single filing fee. 2. For the purpose o…

NAC 680B.050 Filing to conform to new law. (NRS 679B.130) An insurer may file any number of forms for a single filing fee in order to comply with a new law requiring changes in coverage if the forms are so identified in the letter of transmittal that accompanies the submission. (…

NAC 680B.070 Submission in response to request by Commissioner. (NRS 679B.130) A broker, insurer or group of insurers which submits information to the Commissioner in response to a specific request by the Commissioner will not be charged a filing fee even if the information is in…

NAC 680B.090 Resubmission of disapproved form; fees not refundable; credit for overpayment. (NRS 679B.130) 1. If the Commissioner disapproves a form which has been filed by an insurer, any resubmission of that form must be accompanied by the appropriate fee. 2. A fee which is pai…

NAC 680B.095 Fees: Payment by electronic transfer. (NRS 679B.130, 679B.136) Any fees required to be paid for filing forms with the Commissioner may be paid in accordance with the program adopted by the State Treasurer that provides for the electronic transfer of money for the pay…

NAC 680B.150 Definitions. (NRS 360.090, 680B.027) As used in NAC 680B.150 to 680B.250, inclusive, unless the context otherwise requires, the words and terms defined in NAC 680B.160 to 680B.190, inclusive, have the meanings ascribed to them in those sections. (Added to NAC by Tax …

NAC 680B.160 “Ad valorem credit” defined. (NRS 360.090, 680B.027) “Ad valorem credit” means the credit set forth in paragraph (b) of subsection 1 of NRS 680B.050. (Added to NAC by Tax Comm’n by R006-98, eff. 11-20-98)

NAC 680B.170 “Executive Director” defined. (NRS 360.090, 680B.027) “Executive Director” means the Executive Director of the Department of Taxation. (Added to NAC by Tax Comm’n by R006-98, eff. 11-20-98)

NAC 680B.180 “Fifty percent credit” defined. (NRS 360.090, 680B.027) “Fifty percent credit” means the credit set forth in paragraph (a) of subsection 1 of NRS 680B.050. (Added to NAC by Tax Comm’n by R006-98, eff. 11-20-98)

NAC 680B.190 “Net direct premiums and net direct considerations written during the preceding calendar quarter” defined. (NRS 360.090, 680B.027) “Net direct premiums and net direct considerations written during the preceding calendar quarter” means those net direct premiums and ne…

NAC 680B.200 Illustration of proper application of NRS 680B.032. (NRS 360.090, 680B.027, 680B.032) The following example is given to illustrate the proper application of NRS 680B.032. If an insurer writes $500,000 of net direct premiums and net direct considerations during the qu…

NAC 680B.210 Application of fifty percent credit and ad valorem credit against tax imposed for privilege of transacting business in this State. (NRS 360.090, 680B.027, 680B.050) 1. Except as otherwise provided in NAC 680B.240, an insurer who has established to the satisfaction of…

NAC 680B.220 Application of fifty percent credit if home office or regional home office in Nevada. (NRS 360.090, 680B.027, 680B.050) Except as otherwise provided in NAC 680B.240, an insurer who has established to the satisfaction of the Executive Director that the insurer meets a…

NAC 680B.230 Application of ad valorem credit if home office or regional home office in Nevada. (NRS 360.090, 680B.027, 680B.050) 1. Except as otherwise provided in NAC 680B.240, an insurer who has established to the satisfaction of the Executive Director that it meets all the re…

NAC 680B.240 Failure to satisfy requirements for credits for maintaining home office; payment of deficiency and interest. (NRS 360.090, 680B.027, 680B.050) 1. If an insurer fails to satisfy the requirements of NRS 680B.050 or 680B.055 for the entire year for which the credits for…

NAC 680B.250 Credit against tax imposed in succeeding calendar year. (NRS 360.090, 680B.027, 680B.050) If an insurer is not entitled to a certain amount of the fifty percent credit or the ad valorem credit because it would reduce the amount of tax payable to less than 20 percent …

NAC 680C.100 “Insurer” defined. (NRS 679B.130, 680C.110) As used in this chapter, unless the context otherwise requires, “insurer” means: 1. An insurer who is authorized to transact: (a) Casualty insurance, as defined in NRS 681A.020; (b) Health insurance, as defined in NRS 681A.…

NAC 680C.200 Annual fee. [Effective July 1, 2019.] (NRS 679B.130, 680C.110) 1. Each insurer described in subsection 5 of NRS 680C.110 shall pay the following annual fee that is determined by the Commissioner pursuant to subsection 6 of NRS 680C.110 and is based on the direct writ…

NAC 680C.210 Notification of amount of annual fee. [Effective through June 30, 2019.] (NRS 679B.130, 680C.110) On or before May 31 of each year, the Commissioner will notify each insurer of the amount of the annual fee determined by the Commissioner pursuant to subsection 6 of NR…

NAC 680C.220 Due date for payment of annual fee; administrative fine for failure to pay. [Effective through June 30, 2019.] (NRS 679B.130, 680C.110) 1. Except as otherwise provided in subsection 2, an insurer shall pay the annual fee determined by the Commissioner pursuant to sub…

NAC 680C.250 Public meeting of Commissioner to present preliminary budget request for inclusion in executive budget; notice of meeting and opportunity to comment; required contents of budget request. [Effective through June 30, 2019.] (NRS 679B.130, 680C.110) 1. On or before Apri…

NAC 680C.260 Public meeting of Commissioner to present legislatively approved budget and proposed amount of annual fee; required notice of meeting. [Effective through June 30, 2019.] (NRS 679B.130, 680C.110) 1. Each year before the amount of the annual fee is determined by the Co…

NAC 681A.005 Definitions. (NRS 679B.130) As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 681A.260 to 681A.410, inclusive, and NAC 681A.0053, 681A.0057 and 681A.008 have the meanings ascribed to them in those sections. (Added to N…

NAC 681A.0053 “Assuming insurer” defined. (NRS 679B.130, 681A.130) “Assuming insurer” means an insurer that accepts all or part of a ceding insurer’s insurance or reinsurance obligation on a risk or exposure basis. (Added to NAC by Comm’r of Insurance by R079-16, eff. 11-2-2016)

NAC 681A.0057 “Ceding insurer” defined. (NRS 679B.130, 681A.130) “Ceding insurer” means an insurer that transfers an insurance or reinsurance obligation to an assuming insurer on a risk or exposure basis. (Added to NAC by Comm’r of Insurance by R079-16, eff. 11-2-2016)

NAC 681A.006 “Commissioner” defined. (NRS 679B.130) “Commissioner” has the meaning ascribed to it in NRS 679A.060. (Added to NAC by Comm’r of Insurance by R027-02, eff. 5-31-2002)

NAC 681A.007 “Division” defined. (NRS 679B.130) “Division” has the meaning ascribed to it in NRS 679A.085. (Added to NAC by Comm’r of Insurance by R027-02, eff. 5-31-2002)

NAC 681A.008 “Liabilities” defined. (NRS 679B.130, 681A.130) “Liabilities” means the gross liabilities of an assuming insurer which are attributable to reinsurance ceded by insurers domiciled in the United States and which are not otherwise secured by acceptable means and include…

NAC 681A.050 Classes of licenses for intermediaries. (NRS 679B.130, 681A.130, 681A.430) 1. The Commissioner will issue two classes of licenses for intermediaries: (a) Intermediary broker for reinsurance. (b) Intermediary manager for reinsurance. 2. A manager for reinsurance may b…

NAC 681A.060 Application for license to act as intermediary. (NRS 679B.130, 681A.130, 681A.430) 1. A person applying for a license to act as an intermediary must submit an application and any other form prescribed by the Commissioner. 2. A firm, association or corporation which i…

NAC 681A.070 Intermediary license: Period of validity; renewal. (NRS 679B.130, 681A.130, 681A.430) 1. An intermediary license is valid for 3 years after the date of its issuance, or for any lesser term as determined by the Commissioner, or until it is suspended, revoked or otherw…

NAC 681A.080 Manager for reinsurance: Filing of bond; cancellation of bond; suspension of license if replacement bond not filed. (NRS 679B.130, 681A.130, 681A.420) 1. For each reinsurer represented by a manager for reinsurance, the manager shall file with the Commissioner a bond …

NAC 681A.090 Manager for reinsurance: Maintenance of policy of insurance. (NRS 679B.130, 681A.130, 681A.420) A manager for reinsurance shall maintain an insurance policy that covers errors and omissions, issued by an insurer authorized under title 57 of NRS, in an amount determin…

NAC 681A.100 Manager for reinsurance: Satisfaction of requirements by nonresident intermediary. (NRS 679B.130, 681A.130, 681A.420) A manager for reinsurance licensed as a nonresident intermediary may satisfy the requirements of NAC 681A.080 and 681A.090 by providing evidence that…

NAC 681A.110 Agent or broker acting as intermediary. (NRS 679B.130, 681A.130, 681A.420) An agent or broker licensed pursuant to title 57 of NRS may act as an intermediary, if the agent or broker complies with all laws, rules and regulations relating to intermediaries when engaged…

NAC 681A.150 Applicability. (NRS 679B.130, 681A.130) 1. The provisions of NAC 681A.150 to 681A.190, inclusive, apply to all domestic life and accident insurers and health insurers and to: (a) All other authorized life and accident insurers and health insurers which are not subjec…

NAC 681A.160 Prohibited acts regarding financial statement required of insurer. (NRS 679B.130, 681A.130) 1. An insurer shall not, in any financial statement required to be filed with the Division, reduce any liability or establish any asset for reinsurance ceded if, by the terms …

NAC 681A.170 Taking of reserve credit and establishment of assets with approval of Commissioner. (NRS 679B.130, 681A.130) Notwithstanding the provisions of NAC 681A.160 to the contrary, an insurer may, with the prior approval of the Commissioner, take such reserve credit or estab…