Nevada · statute · Nev. Rev. Stat. ch. 686B · 86 active provisions
1. The Legislature intends that NRS 686B.010 to 686B.1799, inclusive, be liberally construed to achieve the purposes stated in subsection 2, which constitute an aid and guide to interpretation but not an independent source of power. 2. The purposes of NRS 686B.010 to 686B.1799, inclusive, are to: (a) Protect policyhold…
As used in NRS 686B.010 to 686B.1799, inclusive, unless the context otherwise requires: 1. “Advisory organization,” except as limited by NRS 686B.1752, means any person or organization which is controlled by or composed of two or more insurers and which engages in activities related to rate making. For the purposes of…
1. Except as otherwise provided in subsection 2 and NRS 686B.125, the provisions of NRS 686B.010 to 686B.1799, inclusive, apply to all kinds and lines of direct insurance written on risks or operations in this State by any insurer authorized to do business in this State, except: (a) Ocean marine insurance; (b) Contract…
1. Except as otherwise provided in subsection 2, the Commissioner may by rule exempt any person or class of persons or any market segment from any or all of the provisions of NRS 686B.010 to 686B.1799, inclusive, if and to the extent that the Commissioner finds their application unnecessary to achieve the purposes of t…
1. The Commissioner may apply to the Secretary of Health and Human Services pursuant to 42 U.S.C. § 18052 for a waiver for state innovation of applicable provisions of the Patient Protection and Affordable Care Act, Public Law 111-148, with respect to health insurance coverage in this State for a plan year beginning on…
1. Rates must not be excessive, inadequate or unfairly discriminatory, nor may an insurer charge any rate which if continued will have or tend to have the effect of destroying competition or creating a monopoly. 2. The Commissioner may disapprove rates if there is not a reasonable degree of price competition at the con…
In determining whether rates comply with the standards under NRS 686B.050, the following criteria shall be applied: 1. Due consideration shall be given to past and prospective loss and expense experience within and outside of this state, to catastrophe hazards and contingencies, to trends within and outside of this sta…
1. Every authorized insurer and every rate service organization licensed under NRS 686B.140 which has been designated by any insurer for the filing of rates under subsection 2 of NRS 686B.090 shall file with the Commissioner, either pursuant to this section or, if applicable, pursuant to NRS 686B.073, all: (a) Rates an…
1. The Commissioner shall establish a program of flex-rated filing to allow an insurer that issues a line of property insurance that provides coverage for real property to make a filing for a proposed increase in a rate for that line of insurance under the program, in lieu of making a filing pursuant to NRS 686B.070, i…
1. Except as otherwise provided in subsections 2 to 5, inclusive, each filing and any supporting information filed under NRS 686B.010 to 686B.1799, inclusive, must, as soon as filed, be open to public inspection at any reasonable time. Copies may be obtained by any person on request and upon payment of a reasonable cha…
1. An insurer shall establish rates and supplementary rate information for any market segment based on the factors in NRS 686B.060. If an insurer has insufficient creditable loss experience, it may use rates and supplementary rate information prepared by a rate service organization, with modification for its own expens…
1. By rule, the Commissioner may require the filing of supporting data as to any or all kinds or lines of insurance or subdivisions thereof or classes of risks or combinations thereof as the Commissioner deems necessary for the proper functioning of the process for monitoring and regulating rates. The supporting data m…
1. Except as otherwise provided in NRS 686B.112, the Commissioner shall consider each proposed increase or decrease in the rate of any kind or line of insurance or subdivision thereof filed with the Commissioner pursuant to subsection 1 of NRS 686B.070. If the Commissioner finds that a proposed increase will result in…
1. The Commissioner shall perform an actuarial review of and consider each rate filing of a health plan issued pursuant to the provisions of chapter 689A, 689B, 689C, 695B, 695C, 695D or 695F of NRS, including, without limitation, long-term care and Medicare supplement plans, filed with the Commissioner pursuant to sub…
1. Any hearing held by the Commissioner to determine whether rates comply with the provisions of NRS 686B.010 to 686B.1799, inclusive, must be open to members of the public. 2. All costs for transcripts prepared pursuant to such a hearing must be paid by the insurer requesting the hearing. 3. At any hearing which is he…
If a filing made with the Commissioner pursuant to paragraph (a) of subsection 1 of NRS 686B.070 pertains to insurance covering the liability of a practitioner licensed pursuant to chapter 630, 631, 632 or 633 of NRS for a breach of the practitioner’s professional duty toward a patient, any interested person, and any a…
Each insurer shall notify its policyholders, in a manner which the Commissioner shall prescribe by regulation, if the policyholders’ premiums for insurance will be materially increased or decreased because the zip code assigned to the address of the policyholder is changed by the United States Postal Service.
1. Except as otherwise provided in this section, no insurer, organization or person licensed pursuant to this title may sell or offer to sell any contract providing coverage for dental care at a rate which is excessive for the benefits offered to the insured or member. For the purpose of this section, a ratio of losses…
1. A rate service organization and an advisory organization shall not provide any service relating to the rates of any insurance subject to NRS 686B.010 to 686B.1799, inclusive, and an insurer shall not utilize the services of an organization for such purposes unless the organization has obtained a license pursuant to…
1. A rate service organization or an advisory organization applying for a license as required by NRS 686B.130 must include with its application: (a) A copy of its constitution, charter, articles of organization, agreement, association or incorporation, and a copy of its bylaws, plan of operation and any other rules or…
1. A natural person who applies for the issuance or renewal of a license as a rate service organization shall submit to the Commissioner the statement prescribed by the Division of Social Services of the Department of Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant. 2…
1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a rate service organization, the Commissioner shall deem the…
No insurer shall assume any obligation to any person other than a policyholder or other companies under common control to use or adhere to certain rates or rules, and no other person shall impose any penalty or other adverse consequence for failure of an insurer to adhere to certain rates or rules.
1. The Commissioner may promulgate or approve reasonable rules providing statistical plans for use thereafter by all insurers in the recording and reporting of loss and expense experience, in order that the experience of insurers may be made available to the Commissioner. 2. The Commissioner may designate one or more r…
1. Whenever the Commissioner deems it necessary in order to inform himself or herself about any matter related to the enforcement of the insurance laws, the Commissioner may examine the affairs and condition of any rate service organization under subsection 1 of NRS 686B.130. So far as reasonably necessary for an exami…