Title 57

NRS 686B.1752 “Advisory Organization” defined. “Advisory Organization,” when preceded by the definite article, means the organization designated by the Commissioner pursuant to NRS 686B.1764. (Added to NRS by 1995, 2049)

NRS 686B.1754 “Classification of risks” defined. “Classification of risks” or “classification” means the system or arrangement used to recognize differences of exposure to hazards among employers with different occupations, industries or operations. (Added to NRS by 1995, 2049)

NRS 686B.1755 “Expenses” defined. “Expenses” means the portion of a rate attributable to the costs for the acquisition of employers to insure, supervision of employees and agents, collection of accounts, general expenses, taxes, licenses and fees. (Added to NRS by 1995, 2049)

NRS 686B.1757 “Industrial insurance” defined. “Industrial insurance” means insurance which provides the compensation required by chapters 616A to 617, inclusive, of NRS and employer’s liability insurance provided in connection with that insurance. (Added to NRS by 1995, 2049)

NRS 686B.1759 “Insurer” defined. “Insurer” means any private carrier authorized to provide industrial insurance in this state. (Added to NRS by 1995, 2049; A 1997, 1450; 1999, 444, 1833)

NRS 686B.17595 “Large-deductible agreement” defined. “Large-deductible agreement” means any combination of one or more policies, endorsements, contracts or security arrangements, which provide for the policyholder to bear the risk of loss of a specified amount of $25,000 or more …

NRS 686B.176 “Plan for rating experience” defined. “Plan for rating experience” means a procedure used to predict the future losses of an individual policyholder by measuring the past losses of the individual policyholder against the losses of other policyholders in the same clas…

NRS 686B.17605 “Prospective loss cost” defined. “Prospective loss cost” means the portion of a rate that is based on historical aggregate losses and loss adjustment expenses which are adjusted to their ultimate value and projected to a future point in time. Except as otherwise pr…

NRS 686B.1761 “Rate” defined. “Rate” means the cost of insurance based on a unit of exposure to liability before any adjustments are made for an individual employer’s losses, or expenses, or a combination of both. The term does not include minimum premiums charged by an insurer. …

NRS 686B.1762 “Willful” defined. “Willful” or “willfully” in relation to an act or omission which constitutes a violation of this chapter means with actual knowledge or belief that the act or omission constitutes a violation and with specific intent to commit the violation. (Adde…

NRS 686B.1763 Applicability of provisions; Commissioner required to administer provisions. 1. NRS 686B.1751 to 686B.1799, inclusive, apply to insurers providing industrial insurance and to the Advisory Organization designated by the Commissioner. The Commissioner shall administer…

NRS 686B.1764 Designation as statistical agent; duties. The Commissioner shall designate one licensed advisory organization to act as the Commissioner’s statistical agent and to assist the Commissioner in compiling relevant statistical information. The designation must be made pu…

NRS 686B.17645 Duty to file with Commissioner formula to assess insurers for certain costs; approval of formula. 1. The Advisory Organization shall, at least 60 days before imposing an assessment pursuant to this section, file with the Commissioner a formula for an assessment on …

NRS 686B.1765 Powers. The Advisory Organization may: 1. Develop statistical plans including definitions for the classification of risks. 2. Collect statistical data from its members and subscribers or any other reliable source. 3. Prepare and distribute data on prospective loss c…

NRS 686B.1767 Prohibited acts by advisory organization. An advisory organization shall not: 1. Compile or distribute recommendations concerning rates which include expenses, other than expenses to adjust losses or profit; or 2. File rates, supplementary rate information or suppor…

NRS 686B.1769 Uniform Plan for Rating Experience: Requirements; use. 1. The Uniform Plan for Rating Experience must: (a) Contain reasonable standards for eligibility in the Plan; (b) Provide adequate incentives for employers to prevent losses; and (c) Permit sufficient difference…

NRS 686B.177 Rating information to be filed with Commissioner; approval of rates. The Advisory Organization shall file with the Commissioner a copy of every prospective loss cost, every manual of rating rules, every rating schedule and every change, amendment or modification to t…

NRS 686B.1771 Insurer not required to issue policy of industrial insurance to any particular employer; plan for apportionment among insurers of persons entitled to insurance who have not been accepted by an insurer; approval of rates for plan by Commissioner; regulations. 1. No i…

NRS 686B.1772 Insurers required to adhere to Uniform System of Classifications of Risks and Uniform Plan for Rating Experience; filing with and approval by Commissioner of subclassifications for Uniform System of Classification. 1. Every insurer shall adhere to the Uniform System…

NRS 686B.1773 Insurers required to record and report certain information and adhere to manual of rules and Uniform Plan for Rating Experience. 1. Every insurer shall: (a) Record and report its experience and losses for policies of industrial insurance to the Advisory Organization…

NRS 686B.1774 Commissioner required to determine whether interaction among insurers and employers for buying and selling industrial insurance is competitive. 1. The Commissioner shall determine whether the interaction among insurers and employers for the buying and selling of ind…

NRS 686B.1775 Filing of rates, supplementary rate information and supporting data by insurer with Commissioner; findings of Commissioner. 1. Each insurer shall file with the Commissioner all the rates, supplementary rate information, supporting data, and changes and amendments th…

NRS 686B.1777 Circumstances under which Commissioner authorized to require supporting information regarding rates and required to hold hearing related to disapproval of rates. 1. If the Commissioner finds that: (a) The interaction among insurers is not competitive; (b) The rates …

NRS 686B.1779 Disapproval of rates: Authority of Commissioner; required grounds. 1. The Commissioner may disapprove a rate filed by an insurer at any time. 2. The Commissioner shall disapprove a rate if: (a) An insurer has failed to meet the requirements for filing a rate pursuan…

NRS 686B.178 Disapproval of rates: Commissioner required to issue written order stating reasons for disapproval and date by which insurer must discontinue use of rate. If the Commissioner disapproves a rate, the Commissioner shall issue a written order stating the reasons for the…

NRS 686B.1781 Payment of dividends: Prohibition against discrimination among policyholders; submission of plan for payments and other requirements related to industrial insurance. 1. An insurer shall not unfairly discriminate among its policyholders in paying a dividend, savings,…

NRS 686B.1782 Agreements to lessen competition among insurers prohibited; insurers prohibited from agreeing to rates established in manner that conflicts with provisions. 1. No insurer or advisory organization may make any agreement with any person, insurer or advisory organizati…

NRS 686B.1783 Maintenance of records by insurer, advisory organization or plan for apportioned risks; examination of records by Commissioner. Every insurer, advisory organization and plan for apportioned risks shall maintain records of the kind reasonably adapted to its method of…

NRS 686B.1784 Examination of insurer, advisory organization or plan for apportioned risks by Commissioner; exception; cost of examination. 1. The Commissioner may examine any insurer, advisory organization or plan for apportioned risks whenever the Commissioner determines that su…

NRS 686B.1785 Request for reconsideration of rates by Advisory Organization or insurer; appeal. Any person aggrieved by any decision, action or omission of the Advisory Organization or an insurer regarding rates or other information filed with the Commissioner may request in writ…

NRS 686B.1786 Large-deductible agreements: Applicability. This section and NRS 686B.17863 and 686B.17867 apply to any policy of industrial insurance which: 1. Is issued by an insurer which: (a) Has a rating of less than “A-” from A.M. Best Company, Inc., or a substantially equiva…

NRS 686B.17863 Large-deductible agreements: Full collateralization required; size of obligations limited. An insurer shall: 1. Require full collateralization of the outstanding obligations owed under a large-deductible agreement using one of the following methods: (a) A surety bo…

NRS 686B.17867 Large-deductible agreements: Insurer in hazardous financial condition prohibited from issuing or renewing policy containing large-deductible agreement; exception. Except when otherwise specifically approved by the Commissioner in writing or by electronic communicat…

NRS 686B.1787 Insurer or advisory organization authorized to request hearing before Commissioner related to order made or action taken by Commissioner without hearing. Any insurer or advisory organization, to which is directed any order made or action taken by the Commissioner wi…

NRS 686B.1789 Provisions governing hearing. A hearing required by any of the provisions of NRS 686B.1751 to 686B.1799, inclusive, is governed by NRS 679B.310 to 679B.370, inclusive, except that any limits of time imposed by NRS 686B.1751 to 686B.1799, inclusive, control. (Added t…

NRS 686B.179 Revocation or suspension of license. The Commissioner may, after notice and hearing, revoke or suspend the license of an advisory organization for failure to comply with the provisions of this chapter. (Added to NRS by 1995, 2055)

NRS 686B.1793 Penalties. 1. An insurer or other person who violates any provision of NRS 686B.1751 to 686B.1799, inclusive, shall, upon the order of the Commissioner, pay an administrative fine not to exceed $1,000 for each violation and not to exceed $10,000 for each willful vio…

NRS 686B.1797 Insurer prohibited from withholding or giving false or misleading information to Commissioner or Advisory Organization. An insurer or other person shall not willfully withhold information from, or knowingly give false or misleading information to, the Commissioner o…

NRS 686B.1799 Limitation on liability of insurer or rating organization acting within scope of employment. No insurer or rating organization or member thereof in its capacity as a member or officer or employee of the licensed rating organization when acting within the scope of hi…

NRS 686B.180 Unavailability of essential coverage; plans for providing coverage; regulations. 1. If the Commissioner finds after a hearing that in any part of this state any essential insurance coverage is not readily available in the voluntary market, and that the public interes…

NRS 686B.185 Immunity of Commissioner and association. There is no liability on the part of, and no cause of action of any nature arises against, the Commissioner or the representatives of the Commissioner or any essential insurance association, its agents or employees, under a p…

NRS 686B.200 Voluntary plan for sharing risks: Submission to and approval by Commissioner. Insurers doing business within this state are authorized to prepare voluntary plans providing any specified kind, line or class of insurance coverage or subdivision or combination thereof f…

NRS 686B.210 Nevada Essential Insurance Association: Establishment; membership; plan of operation; regulations. 1. If after a hearing the Commissioner determines that a voluntary or mandatory plan would, in the judgment of the Commissioner, fail for any reason to provide essentia…

NRS 686B.220 Nevada Essential Insurance Association: Membership and reimbursement of Board of Directors; submission to and approval or adoption of plan of operation by Commissioner. 1. The administrative powers of the Nevada Essential Insurance Association shall be vested in a Bo…

NRS 686B.230 Nevada Essential Insurance Association: General powers. 1. The Nevada Essential Insurance Association has, for purposes of this section and to the extent approved by the Commissioner, the general powers and authority granted under the laws of this state to carriers l…

NRS 686B.240 Nevada Essential Insurance Association: Powers of Commissioner and Association. The Commissioner and the Nevada Essential Insurance Association may: 1. Give consideration to the need for adequate and readily accessible coverage, to alternative methods of improving th…