Nev. Rev. Stat. § 690B.290
Insurer offering to issue claims-made policy required to offer extended reporting endorsement to certain practitioners; disclosure of formula used to determine premium
Nevada · Nevada Revised Statutes Chapter 690B — Casualty Insurance · Status: effective
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- Citation
- Nev. Rev. Stat. § 690B.290, Insurer offering to issue claims-made policy required to offer extended reporting endorsement to certain practitioners; disclosure of formula used to determine premium, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2148267
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Full text
If an insurer offers to issue a claims-made policy to a practitioner licensed pursuant to chapter 630, 631, 632 or 633 of NRS, the insurer shall:
1. Offer to issue an extended reporting endorsement to the practitioner; and
2. Disclose to the practitioner the cost formula that the insurer uses to determine the premium for the extended reporting endorsement. The cost formula must be based on:
(a) An amount that is not more than twice the amount of the premium for the claims-made policy at the time of the termination of that policy; and
(b) The rates filed by the insurer and approved by the Commissioner.