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2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.420 - Employment of technical and professional consultants.

The Commissioner may employ and fix the compensation of, and enter into agreements with, such technical and professional consultants as the Commissioner deems necessary to accomplish the purposes of NRS 679B.400 to 679B.460, inclusive.
(Added to NRS by 1989, 1227)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.430 - Authority of Commissioner to issue orders for compliance with provisions; regulations governing recording and reporting of certain information by certain insurers; such insurer required to report information and to pay fee in certain circumstances.

1. The Commissioner may issue such orders as are necessary to require compliance with the provisions of NRS 679B.400 to 679B.460, inclusive.
2. The Commissioner shall adopt regulations requiring each insurer authorized to transact casualty or property insurance in this state to record and report its losses, expenses and other information necessary to assess the relationship of premiums and related income to costs and expenses of insurers. The Commissioner may designate one or more rate service organizations or other advisory organizations to gather and compile this information. The Commissioner shall require each insurer authorized to transact casualty or property insurance in this state to submit reports, on forms furnished by the Commissioner, of its transactions in insurance in this state and elsewhere.
3. If a rate service organization or other advisory organization designated pursuant to subsection 2 imposes a fee for the filing, processing or review of information required to be filed by this section, the insurer shall pay that fee and file the information.
(Added to NRS by 1989, 1227)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.440 - Contents of reports.

1. The Commissioner may require that reports submitted pursuant to NRS 679B.430 include, without limitation, information regarding:
(a) Liability insurance provided to:
(1) Governmental agencies and political subdivisions of this State, reported separately for:
(I) Cities and towns;
(II) School districts; and
(III) Other political subdivisions;
(2) Public officers;
(3) Establishments where alcoholic beverages are sold;
(4) Facilities for the care of children;
(5) Labor, fraternal or religious organizations; and
(6) Officers or directors of organizations formed pursuant to title 7 of NRS, reported separately for nonprofit entities and entities organized for profit;
(b) Liability insurance for:
(1) Defective products;
(2) Medical or dental malpractice of:
(I) A practitioner licensed pursuant to chapter 630, 630A, 631, 632, 633, 634, 634A, 634B, 635, 636, 637, 637B, 639 or 640 of NRS or who holds a license or limited license issued pursuant to chapter 653 of NRS;
(II) A hospital or other health care facility; or
(III) Any related corporate entity;
(3) Malpractice of attorneys;
(4) Malpractice of architects and engineers; and
(5) Errors and omissions by other professionally qualified persons;
(c) Vehicle insurance, reported separately for:
(1) Private vehicles;
(2) Commercial vehicles;
(3) Liability insurance; and
(4) Insurance for property damage; and
(d) Workers’ compensation insurance.
2. The Commissioner may require that the report include, without limitation, information specifically pertaining to this State or to an insurer in its entirety, in the aggregate or by type of insurance, and for a previous or current year, regarding:
(a) Premiums directly written;
(b) Premiums directly earned;
(c) Number of policies issued;
(d) Net investment income, using appropriate estimates when necessary;
(e) Losses paid;
(f) Losses incurred;
(g) Loss reserves, including:
(1) Losses unpaid on reported claims; and
(2) Losses unpaid on incurred but not reported claims;
(h) Number of claims, including:
(1) Claims paid; and
(2) Claims that have arisen but are unpaid;
(i) Expenses for adjustment of losses, including allocated and unallocated losses;
(j) Net underwriting gain or loss;
(k) Net operation gain or loss, including net investment income; and
(l) Any other information requested by the Commissioner.
3. The Commissioner may also obtain, based upon an insurer in its entirety, information regarding:
(a) Recoverable federal income tax;
(b) Net unrealized capital gain or loss; and
(c) All other expenses not included in subsection 2.
(Added to NRS by 1989, 1227; A 1999, 2784; 2003, 3278; 2015, 2319; 2019, 1687, 2738; 2023, 1708)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.460 - Penalties for violation of or noncompliance with provisions or regulations.

1. An insurer who willfully or repeatedly violates or fails to comply with a provision of NRS 679B.400 to 679B.440, inclusive, or a regulation adopted pursuant to NRS 679B.430 is subject, after notice and a hearing held pursuant to NRS 679B.310 to 679B.370, inclusive, to payment of an administrative fine of not more than $1,000 for each day of the violation or failure to comply, up to a maximum fine of $50,000.
2. An insurer who fails or refuses to comply with an order issued by the Commissioner pursuant to NRS 679B.430 is subject, after notice and a hearing held pursuant to NRS 679B.310 to 679B.370, inclusive, to suspension or revocation of the insurer’s certificate of authority to transact insurance in this state.
3. The imposition of an administrative fine pursuant to this section must not be considered by the Commissioner in any other administrative proceeding unless the fine has been paid or a court order for payment of the fine has become final.
(Added to NRS by 1989, 1229; A 2003, 3279; 2015, 2833; 2019, 1688)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.510 - Definitions.

As used in NRS 679B.510 to 679B.560, inclusive, unless the context otherwise requires, the words and terms defined in NRS 679B.520, 679B.530 and 679B.540 have the meanings ascribed to them in those sections.
(Added to NRS by 1997, 1731; A 2001, 2183; 2003, 156)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.540 - "Insurer" defined.

"Insurer" means any insurer or organization authorized pursuant to this title to conduct business in this state that provides or arranges for the provision of health care services, including, without limitation, an insurer that issues a policy of health insurance, an insurer that issues a policy of group health insurance, a carrier serving small employers, a fraternal benefit society, a hospital or medical service corporation, a health maintenance organization, a plan for dental care and a prepaid limited health service organization.
(Added to NRS by 1997, 1731)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.550 - Duties of Division.

The Division shall:
1. Establish a toll-free telephone service for receiving inquiries and complaints from consumers of health care in this State concerning health care plans;
2. Provide answers to inquiries of consumers of health care concerning health care plans, or refer the consumers to the appropriate agency, department or other entity that is responsible for addressing the specific type of inquiry;
3. Refer consumers of health care to the appropriate agency, department or other entity that is responsible for addressing the specific type of complaint of the consumer;
4. Provide counseling and assistance to consumers of health care concerning health care plans;
5. Educate consumers of health care concerning health care plans in this State; and
6. Take such actions as are necessary to ensure public awareness of the existence and purpose of the services provided by the Division pursuant to this section.
(Added to NRS by 1997, 1731)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.560 - Insurer required to provide information to insured.

Each insurer shall provide to each insured in a written format that clearly stands out from any surrounding text:
1. The telephone number of the toll-free telephone service which is established pursuant to NRS 679B.550; and
2. The name of the Division and its hours of operation, including, but not limited to, the hours of operation of the toll-free telephone service.
(Added to NRS by 1997, 1732)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.600 - Definitions.

As used in NRS 679B.600 to 679B.700, inclusive, unless the context otherwise requires, the words and terms defined in NRS 679B.610 and 679B.620 have the meanings ascribed to them in those sections.
(Added to NRS by 2001, 1093)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.630 - Program to investigate acts or practices of fraud.

The Commissioner shall establish a program within the Division to investigate any act or practice which:
1. Violates the provisions of NRS 686A.010 to 686A.310, inclusive; or
2. Defrauds or is an attempt to defraud an insurer.
(Added to NRS by 1983, 1384; A 1991, 1616; 1993, 1899)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.650 - Investigative authority of Commissioner.

To investigate violations of the provisions of this title, or to assist the Attorney General or other local, state or federal investigative and law enforcement agencies in investigating an act of insurance fraud, the Commissioner may:
1. Designate employees of the Division as investigators to carry out the provisions of NRS 679B.600 to 679B.700, inclusive.
2. Conduct investigations into such activities occurring outside this state, if necessary. To conduct these investigations, the Commissioner or the investigators of the Commissioner may:
(a) Travel outside this state;
(b) Cooperate with appropriate agencies or persons outside this state; or
(c) Designate those agencies to conduct investigations for the Commissioner.
3. Assist officials of investigative or law enforcement agencies of any other state or the Federal Government who are investigating fraudulent claims and who request assistance from the Commissioner.
(Added to NRS by 1983, 1384; A 1991, 1616; 1993, 1899; 2001, 1094)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.660 - Cooperation between Commissioner, Attorney General and investigative and law enforcement agencies.

1. Every person in charge of an investigative or law enforcement agency within this state shall:
(a) Cooperate with the Commissioner and the investigators of the Commissioner, and the Attorney General and the members of the Fraud Control Unit; and
(b) Upon request, furnish the Commissioner or Attorney General, as appropriate, with any information necessary for the investigation of insurance fraud.
2. The Commissioner and the Attorney General shall:
(a) Assist any official of an investigative or a law enforcement agency of this state, any other state or the Federal Government who requests assistance in investigating any act of insurance fraud; and
(b) Furnish to those officials any information, not otherwise confidential, concerning his or her investigation or his or her report on insurance fraud.
(Added to NRS by 1983, 1385; A 2001, 1094)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.670 - Immunity from liability for nonmalicious disclosure of information on fraudulent claim or suspicious fire.

Any person, governmental entity, insurer, employee or representative of an insurer, official of an investigative or law enforcement agency, employee of the Division, the Commissioner, the Attorney General or a member of the Fraud Control Unit is not subject to a criminal penalty or subject to civil liability for libel, slander or any similar cause of action in tort if he or she, without malice, discloses information on a fraudulent claim or suspicious fire.
(Added to NRS by 1983, 1385; A 1991, 1616; 1993, 1899; 2001, 1095)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.680 - Effect of certain powers and duties of Attorney General and Fraud Control Unit on jurisdiction of Commissioner.

Nothing in NRS 228.412 limits or diminishes the exclusive jurisdiction of the Commissioner otherwise granted by statute to investigate or take administrative or civil action:
1. For any violation of this title by any person or entity who is or has been licensed by the Commissioner pursuant to this title;
2. Against any person or entity who is or has been engaged in the business of insurance without a license as required by this title, including, without limitation, the unauthorized transaction of insurance in violation of chapter 685B of NRS; or
3. Against any person or entity as the Commissioner deems appropriate.
(Added to NRS by 2001, 1093)
2023 Nevada Revised Statutes › Chapter 679B - Commissioner of Insurance › NRS 679B.690 - Confidentiality of records and other information related to investigation for prosecution of insurance fraud.

1. Except as otherwise provided in NRS 239.0115, all records and other information related to an investigation for the prosecution of insurance fraud conducted pursuant to NRS 679B.600 to 679B.700, inclusive, or 686A.281 to 686A.295, inclusive, are confidential unless:
(a) The prosecuting attorney releases, in such manner as he or she deems appropriate, all or any part of the records or information for public inspection after determining that the release of the records or information:
(1) Will not harm the investigation or the person who is being investigated; or
(2) Serves the interests of a policyholder, the shareholders of the insurer or the public; or
(b) A court orders the release of the records or information after determining that the production of the records or information will not damage any investigation being conducted pursuant to NRS 679B.600 to 679B.700, inclusive, or 686A.281 to 686A.295, inclusive.
2. The prosecuting attorney or Commissioner may classify as confidential specific records and other information if the records or other information was obtained from a governmental agency or other source upon the express condition that the contents would remain confidential.
3. Except as otherwise provided in NRS 686A.287 and except as necessary for the prosecution of a crime, information and documents that are related to cases or matters investigated for the prosecution of insurance fraud pursuant to NRS 679B.600 to 679B.700, inclusive, or 686A.281 to 686A.295, inclusive, are confidential for the duration of the investigation and remain confidential after the completion of the investigation. Such information and documents may not be made public unless the prosecuting attorney finds the existence of an imminent threat of harm to the safety or welfare of the policyholder, shareholders or the public and determines that the interests of the policyholder, shareholders or the public will be served by publication thereof, in which event the prosecuting attorney may make a record public or publish all or any part of the record in any manner the prosecuting attorney deems appropriate.
4. As used in this section, "prosecuting attorney" means the Attorney General or the district attorney of a county when acting pursuant to subsection 4 of NRS 686A.283.
(Added to NRS by 2001, 1093; A 2007, 2154; 2023, 2620)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.010 - Definitions.

As used in this Code, unless the context otherwise requires, the words and terms defined in NRS 680A.020 to 680A.050, inclusive, shall have the meanings ascribed to them in NRS 680A.020 to 680A.050, inclusive.
(Added to NRS by 1971, 1576; A 2019, 1427)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.020 - "Charter" defined.

"Charter" means the certificate of incorporation, articles of incorporation, articles of agreement, articles of association, charter granted by legislative act, or other basic constituent document of a corporation, or the power of attorney of the attorney-in-fact of a reciprocal insurer.
(Added to NRS by 1971, 1576)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.030 - "Mutual" insurer defined.

A "mutual" insurer is an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition shall not be deemed to exclude as "mutual" insurers certain foreign insurers found by the Commissioner to be organized on the mutual plan under the laws of their states of domicile, but having temporary share capital or providing for election of the insurer’s governing body on a reasonable basis.
(Added to NRS by 1971, 1576)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.040 - "Reciprocal" insurer defined.

A "reciprocal" insurer is an unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact common to all such persons to provide reciprocal insurance among themselves.
(Added to NRS by 1971, 1576)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.058 - Applicability of chapter to self-funded multiple employer welfare arrangements.

To the extent applicable and not inconsistent with federal law:
1. The provisions of this chapter that govern domestic insurers, their business, capital and surplus requirements and the requirements for eligibility for a certificate of authority govern self-funded multiple employer welfare arrangements; and
2. A self-funded multiple employer welfare arrangement must comply with the criteria set forth in this chapter to qualify for a certificate of authority.
(Added to NRS by 2019, 1426)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.060 - Certificate of authority: Required; penalty.

1. A person shall not act as an insurer and an insurer shall not transact insurance in this State by mail or otherwise, except as authorized by a certificate of authority issued by the Commissioner and then in full force, and except as to such transactions as are expressly otherwise provided in this Code.
2. A domestic insurer and a foreign insurer from offices or by personnel or facilities located in this State shall not solicit insurance applications or otherwise transact insurance in another state or country unless it holds a subsisting certificate of authority granted to it by the Commissioner authorizing it to transact the same kind or kinds of insurance in this State.
3. Any officer, director, agent, representative or employee of any insurer who willfully authorizes, negotiates, makes or issues any insurance contract in violation of this section is guilty of a misdemeanor.
(Added to NRS by 1971, 1576; A 1983, 684; 1985, 348)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.080 - Eligibility for certificate of authority: General requirements.

To qualify for and hold authority to transact insurance in this State, an insurer must be otherwise in compliance with this Code and with its charter powers, and must be an incorporated stock or mutual insurer, or a reciprocal insurer, of the same general type as may be formed as a domestic insurer under this Code, except that:
1. No foreign insurer may be authorized to transact insurance in this State which does not maintain reserves as required by chapter 681B of NRS (assets and liabilities), as applicable to the kind or kinds of insurance transacted by such insurer, wherever transacted in the United States of America, or which transacts business anywhere in the United States of America on the assessment plan, or stipulated premium plan, or any similar plan.
2. No insurer may be authorized to transact a kind of insurance in this State unless duly authorized or qualified to transact such insurance in the state or country of its domicile.
3. No insurer may be authorized to transact in this State any kind of insurance which is not within the definitions as set forth in NRS 681A.010 to 681A.080, inclusive (kinds of insurance).
4. No such authority may be granted or continued to any insurer while in arrears to the State for fees, licenses, taxes, assessments, fines or penalties accrued on business previously transacted in this State.
In addition to the other requirements set forth in this section, an insurer who proposes to transact in this State insurance that protects a policyholder from liability arising out of the ownership, maintenance or use of a motor vehicle must demonstrate to the satisfaction of the Department of Motor Vehicles that the insurer is able to comply with the provisions of NRS 485.314.
(Added to NRS by 1971, 1577; A 1997, 1086; 2001, 2634)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.082 - Eligibility for certificate of authority: Additional requirements for self-funded multiple employer welfare arrangements.

The Commissioner may not issue a certificate of authority to a self-funded multiple employer welfare arrangement unless the arrangement establishes to the satisfaction of the Commissioner that the following requirements have been satisfied by the arrangement:
1. The employers participating in the arrangement are members of a bona fide association.
2. The employers participating in the arrangement exercise control over the arrangement, as follows:
(a) Subject to paragraph (b), control exists if the board of directors of the bona fide association or the employers participating in the arrangement have the right to elect at least 75 percent of the individuals designated in the arrangement’s organizational documents as having control over operations of the arrangement and individuals designated in the arrangement’s organizational documents in fact exercise control over the operation of the arrangement; and
(b) The use of a third-party administrator to process claims and to assist in the administration of the arrangement is not evidence of the lack of control over the operation of the arrangement.
3. In this State, the arrangement provides only health care services.
4. In this State, the arrangement provides or arranges benefits for health care services in compliance with the provisions of this title that mandate particular benefits or offerings and with provisions that require access to particular types or categories of health care providers and facilities.
5. The arrangement provides health care services to not less than 20 employers and not less than 75 employees.
6. The arrangement may not solicit participation in the arrangement from the general public. However, the arrangement may employ licensed insurance producers who receive a commission, unlicensed individuals who do not receive a commission, and may contract with a licensed insurance producer who may be paid a commission or other remuneration, for the purpose of enrolling and renewing the enrollments of employers in the arrangement.
7. The arrangement has been in existence and operated actively for a continuous period of not less than 10 years as of December 31, 2018, except for an arrangement that has been in existence and operated actively since December 31, 2015, and is sponsored by an association that has been in existence more than 25 years.
8. The arrangement is not organized or maintained solely as a conduit for the collection of premiums and the forwarding of premiums to an insurance company.
9. The arrangement has aggregate stop loss coverage, with an attachment point of 120 percent of expected claims.
(Added to NRS by 2019, 1426)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.090 - Eligibility for certificate of authority: Ownership; management.

1. No foreign insurer which is directly or indirectly owned or controlled in whole or substantial part by any government or governmental agency shall be authorized to transact insurance in Nevada. Membership in a mutual insurer, or subscribership in a reciprocal insurer, or ownership of stock of an insurer by the Alien Property Custodian or similar officer of the United States of America, or ownership of stock or other security which does not have voting rights with respect to the management of the insurer, or supervision of an insurer by public authority, shall not be deemed to be an ownership or control of the insurer for the purposes of this subsection.
2. The Commissioner shall not grant or continue authority to transact insurance in this state to any insurer or proposed insurer:
(a) Of which any director, officer or other individual materially part of the management is found by the Commissioner after investigation or upon reliable information to be incompetent, or dishonest, or untrustworthy, or of unfavorable business repute;
(b) Of which the managers are so lacking in insurance company managerial experience in operations of the kind proposed in this state as to make such operation, currently or prospectively, hazardous to or contrary to the best interests of the insurance-buying or investing public of this state;
(c) Which the Commissioner has good reason to believe is affiliated directly or indirectly through ownership, control, management, reinsurance transactions or other business relations with any person or persons of unfavorable business repute; or
(d) Whose business operations are or have been marked, to the injury of insurers, stockholders, policyholders, creditors or the public, by illegality, or by manipulation of assets, or of accounts, or of reinsurance, or by bad faith.
(Added to NRS by 1971, 1578)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.095 - Certificate of authority: Required to transact reinsurance; eligibility; exceptions.

1. Except as otherwise provided in subsection 3, an insurer which is not authorized to transact insurance in this State may not transact reinsurance with a domestic insurer in this State, by mail or otherwise, unless the insurer holds a certificate of authority as a reinsurer in accordance with the provisions of NRS 680A.010 to 680A.150, inclusive, 680A.160 to 680A.280, inclusive, 680A.320 and 680A.330.
2. To qualify for authority only to transact reinsurance, an insurer must meet the same requirements for capital and surplus as are imposed on an insurer which is authorized to transact insurance in this State.
3. This section does not apply to the joint reinsurance of title insurance risks or to reciprocal insurance authorized pursuant to chapter 694B of NRS.
(Added to NRS by 1987, 642; A 2017, 2333; 2023, 1856)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.100 - Name of insurer.

1. No insurer shall be formed or authorized to transact insurance in this state which has or uses a name which is the same as or deceptively similar to that of another insurer already so authorized, without the written consent of such other insurer.
2. No life insurer shall be so authorized which has or uses a name deceptively similar to that of another insurer, other than a predecessor in interest, authorized to transact insurance in this state within the preceding 10 years if life insurance policies originally issued by such other insurer are still outstanding in this state.
3. No insurer shall be formed or authorized to transact insurance which has or uses a name the same as or deceptively similar to that of any foreign insurer not so authorized if such foreign insurer has within the next preceding 12 months signified its intention to secure an incorporation in this state under such name, or to do business as a foreign insurer in this state under such name, by filing notice of such intention with the Commissioner, unless the written consent to the use of such name or deceptively similar name has been given by such foreign insurer.
4. No insurer shall be so authorized which has or uses a name which tends to deceive or mislead as to the type of organization of the insurer.
5. In case of conflict of names between two insurers, or a conflict otherwise prohibited under this section, the Commissioner may permit (or shall require as a condition to the issuance of an original certificate of authority to an applicant insurer) the insurer to use in this state such supplementation or modification of its name or such business name as may reasonably be necessary to avoid the conflict.
6. Except as provided in subsection 5, an insurer shall conduct its business in this state in its own corporate (if incorporated) or proper (if a reciprocal insurer) name.
(Added to NRS by 1971, 1579)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.110 - Combinations of insuring powers.

An insurer which otherwise qualifies therefor may be authorized to transact any one kind or any combination of kinds of insurance as defined in NRS 681A.010 to 681A.080, inclusive (kinds of insurance), except:
1. A life insurer may grant annuities and may be authorized to transact in addition only health insurance; but the Commissioner may, if the insurer otherwise qualifies therefor, continue so to authorize any life insurer which immediately prior to January 1, 1972, was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and health insurances and annuity business.
2. A reciprocal insurer shall not transact life insurance.
(Added to NRS by 1971, 1579)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.120 - Required capital.

1. Except as provided in subsections 2 and 5, to qualify for authority to transact any one kind of insurance as defined in NRS 681A.010 to 681A.080, inclusive, or combinations of kinds of insurance as shown below, an insurer shall possess and thereafter maintain unimpaired paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a mutual or a reciprocal insurer, and free surplus not less than 100 percent of the minimum required capital stock or minimum required basic surplus, and when first so authorized shall possess initial free surplus, all in amounts not less than as determined from the following table:
FOREIGN MUTUAL RECIPROCAL
STOCK INSURERS INSURERS INSURERS
Minimum Minimum Minimum
Kind or Required Initial Required Initial Required Initial
Kinds of Capital Free Basic Free Basic Free
Insurance Stock Surplus Surplus Surplus Surplus Surplus
Life....................... 500,000 1,000,000 500,000 1,000,000 N/A N/A
Health, Property,
Casualty, Surety,
Marine &
Transportation
Multiple
line.................... 500,000 1,000,000 500,000 1,000,000 500,000 1,000,000
Title...................... 500,000 750,000 N/A N/A N/A N/A
Financial
Guarantee......... 10,000,000 40,000,000 N/A N/A N/A N/A
2. At the discretion of the Commissioner, a domestic insurer holding a valid certificate of authority to transact insurance in this state immediately prior to January 1, 1992, may, if otherwise qualified therefor, continue to be so authorized while possessing the amount of paid-in capital stock, if a stock insurer, or surplus, if a mutual insurer, required by the laws of this state for such authority immediately before January 1, 1992, for a period not to exceed 2 years. On or before January 1, 1994, the insurer shall meet the requirements of subsection 1. The Commissioner shall not grant such an insurer authority to transact any other or additional kinds of insurance unless it then fully complies with the requirements as to capital and surplus, as applied to all kinds of insurance which it then proposes to transact, as provided by this section for like foreign insurers applying for original certificates of authority pursuant to this Code.
3. Capital and surplus requirements are based upon all the kinds of insurance transacted by the insurer in any and all areas in which it operates or proposes to operate, whether or not only a portion of such kinds are to be transacted in this state.
4. As to surplus required for qualification to transact one or more kinds of insurance and thereafter to be maintained, domestic mutual insurers are governed by chapter 693A of NRS and domestic reciprocal insurers are governed by chapter 694B of NRS.
5. An insurer who transacts financial guaranty insurance in this state must transact only one kind of insurance and possess and maintain the minimum capital and surplus requirements pursuant to subsection 1.
(Added to NRS by 1971, 1579; A 1991, 2026)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.130 - Combinations of insurance for which additional capital not required.

Without additional capital or additional surplus, an authorized insurer is also authorized:
1. If a life insurer, to grant annuities.
2. If a health insurer, to insure against congenital defects, as defined in NRS 681A.020.
(Added to NRS by 1971, 1581)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.140 - Required deposit; deposit in other state.

1. The Commissioner shall not authorize an insurer to transact insurance in this state, other than an alien insurer or a title insurer, unless it makes and thereafter continuously maintains on deposit in this state, through the Commissioner, cash or securities eligible for such deposit under the laws of this state of a fair market value not less than its minimum required capital stock (if a stock insurer) or minimum required basic surplus (if a mutual or reciprocal insurer), for the protection of the insurer’s policyholders or of its policyholders and creditors in the United States of America. The Commissioner may adopt regulations which allow the use of securities as a deposit without delivery of the securities to the Commissioner.
2. The Commissioner shall not so authorize a title insurer unless it so deposits and maintains such cash or securities of fair market value not less than its minimum required capital stock as a guaranty fund for the security and protection of the holders of, or beneficiaries under, the title insurance contracts issued by the insurer.
3. The Commissioner shall not so authorize an alien insurer unless it so makes and thereafter continuously maintains such a deposit, representing money in excess of all the insurer’s liabilities under insurance contracts in force in the United States of America, of a fair market value of not less than that required under subsection 1, as to a like foreign insurer. The deposit must be held in trust for the protection of all the insurer’s policyholders, or policyholders and creditors, in the United States of America.
4. In lieu of such a deposit made or maintained in this state, the Commissioner shall accept the certificate in proper form of the public officer having general supervision of insurers in any other state to the effect that a deposit of like quality and amount, or part thereof, by an insurer is being maintained for like purposes in public custody or control pursuant to the laws of that state, if the Commissioner is satisfied as to the like quality and amount of the deposit.
5. All such deposits in this state are subject to the applicable provisions of chapter 682B of NRS.
(Added to NRS by 1971, 1581; A 1985, 607)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.155 - Certificate of authority: Payment of certain taxes and penalties by certain applicants required.

An insurer which has transacted insurance in this state without a certificate of authority must not be granted a certificate of authority unless it pays the tax imposed by NRS 680B.027 and the penalties provided by NRS 685B.190 for the 5 years immediately preceding the date upon which it applies for a certificate of authority.
(Added to NRS by 1985, 606; A 1995, 1612)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.160 - Certificate of authority: Issuance or refusal; contents and ownership.

1. If upon completion of its application the Commissioner finds that the insurer has met the requirements therefor under this Code, the Commissioner may issue to the insurer a proper certificate of authority; if the Commissioner does not so find, the Commissioner shall issue an order refusing such certificate.
2. The certificate, if issued, shall state the insurer’s name, home office address, state or country of organization, and the kinds of insurance the insurer is authorized to transact throughout Nevada. At the insurer’s request, the Commissioner may issue a certificate of authority limited to particular types of insurance or coverages within a kind of insurance as defined in NRS 681A.010 to 681A.080, inclusive (kinds of insurance).
3. Although issued and delivered to the insurer, the certificate of authority at all times shall be the property of the State of Nevada.
(Added to NRS by 1971, 1583; A 2019, 1689)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.165 - Certificate of authority: Insurer required to notify Commissioner of all material changes to information provided in application; suspension or revocation or administrative fine for failure to provide certain such notice.

1. Each insurer to which the Commissioner issues a certificate of authority shall notify the Commissioner of all material changes to the information provided by the insurer in its written application pursuant to NRS 680A.150, including, without limitation:
(a) Any change of address, such as a change to:
(1) The mailing address of the home office, or any other physical address, of the insurer; and
(2) Any other mailing address of the insurer, including, without limitation, the address used for general correspondence or for annual renewal notices;
(b) Any changes in the officers, directors or ownership of the insurer;
(c) Any changes to the manner of service of legal process against the insurer; and
(d) Any changes to the articles of incorporation, by-laws or power of attorney for the attorney-in-fact of the insurer.
2. The notice required by subsection 1 must be provided to the Commissioner within 30 days after the date on which the change occurs.
3. If an insurer changes its physical or mailing address without giving written notice and the Commissioner is unable to locate the insurer after diligent effort, the Commissioner may suspend or revoke the insurer’s certificate of authority without a hearing. The mailing of a letter by certified mail, return receipt requested, addressed to the insurer at its last mailing address appearing on the records of the Division, and the return of the letter undelivered, constitutes a diligent effort by the Commissioner. In lieu of such a suspension or revocation, the Commissioner may levy upon the insurer, and the insurer shall pay forthwith, an administrative fine of not more than $2,000 for each act or violation.
(Added to NRS by 2017, 2333)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.170 - Certificate of authority: Amendment; fee.

Upon written application therefor by the insurer and due cause shown, the Commissioner may amend the certificate of authority of an insurer as required by change of name or to show any change in the kinds of insurance the insurer may thereafter transact and is qualified to transact in this state. The insurer shall accompany such request with the fee for amendment as specified in NRS 680B.010 (fee schedule).
(Added to NRS by 1971, 1583)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.173 - Transfer of insurer’s domicile: Foreign insurer may become domestic insurer.

A foreign insurer with a certificate of authority to transact insurance in this state may become a domestic insurer by complying with the requirements of this Code for forming a domestic insurer of the same type. After complying with those requirements, the insurer has the same rights and obligations as other domestic insurers.
(Added to NRS by 1983, 683)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.175 - Transfer of insurer’s domicile: Termination of status as domestic insurer; qualification as foreign insurer.

1. If a domestic insurer transfers its domicile to another state, it ceases to be a domestic insurer.
2. The Commissioner shall issue to such an insurer a certificate of authority to transact insurance as a foreign insurer if:
(a) The insurer qualifies as a foreign insurer; and
(b) Such certification is in the best interest of the policyholders of this state.
(Added to NRS by 1983, 683)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.177 - Transfer of insurer’s domicile: Duties of insurer; effect on policies.

1. The Commissioner may require a domestic insurer which converts to a foreign insurer or a foreign insurer which converts to a domestic insurer to:
(a) Obtain new licenses for its agents;
(b) Make new appointments of agents; or
(c) Apply for any other new license, certificate or authorization.
Any license, appointment or authorization which the Commissioner does not require an insurer to renew continues in effect after the conversion.
2. All policies of an insurer remain in effect when it transfers its domicile into or out of this state. The Commissioner may require that the insurer endorse the policies with its new name or location.
3. Every insurer which transfers its domicile into or out of this state shall notify the Commissioner at least 30 days before the transfer. Such an insurer shall file new forms for its policies and any other documents required by the Commissioner with the Commissioner on or before the effective date of the transfer. The insurer may use existing forms if approved by and under the conditions imposed by the Commissioner.
(Added to NRS by 1983, 683)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.180 - Continuance, expiration and reinstatement of certificate of authority.

1. A certificate of authority continues in force as long as the insurer is entitled thereto under this Code, and until suspended or revoked by the Commissioner or terminated at the insurer’s request, if, each year, the insurer:
(a) Pays on or before March 1 the continuation fee provided in NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110;
(b) Files its annual statement for the next preceding calendar year as required by NRS 680A.270; and
(c) Pays, if required, the premium taxes for the preceding calendar year.
2. If not so continued by the insurer, its certificate of authority expires at midnight on the May 31 next following such failure of the insurer to continue it in force, unless earlier revoked for failure to pay taxes as provided in NRS 680A.190. The Commissioner shall promptly notify the insurer of the occurrence of any failure resulting in the impending expiration of its certificate of authority.
3. The Commissioner may, upon the insurer’s request made within 3 months after expiration, reinstate a certificate of authority which the insurer has inadvertently permitted to expire, after the insurer has fully cured all its failures which resulted in the expiration, and upon payment by the insurer of the fee for reinstatement specified in subsection 1 of NRS 680B.010. Otherwise, the insurer may be granted another certificate of authority only after filing an application therefor and meeting all other requirements for an original certificate of authority in this state.
(Added to NRS by 1971, 1583; A 1987, 643; 1997, 3017; 2009, 1765)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.190 - Refusal to continue or suspension or revocation of certificate of authority: Mandatory grounds; notice; hearing.

1. The Commissioner shall refuse to continue or shall suspend or revoke an insurer’s certificate of authority:
(a) If such action is required by any provision of this Code;
(b) If it is a foreign insurer and it no longer meets the requirements for a certificate of authority, on account of deficiency of capital or surplus or otherwise;
(c) If it is a domestic insurer and it has failed to cure an impairment of capital or surplus within the time allowed therefor by the Commissioner under this Code or is otherwise no longer qualified for the certificate of authority;
(d) If the insurer’s certificate of authority to transact insurance therein is suspended or revoked by its state of domicile, or state of entry into the United States of America if an alien insurer;
(e) For failure of the insurer to pay taxes on its premiums if required by this Code; or
(f) For failure of the insurer to furnish information to the Commissioner relating to medical malpractice insurance issued by the insurer in this State or any other state.
2. Except in case of insolvency, impairment of required capital or surplus, or suspension or revocation by another state, the Commissioner shall give the insurer at least 20 days’ notice in advance of any such refusal, suspension or revocation under this section, and of the particulars of the reasons therefor. If the insurer requests a hearing thereon within those 20 days, the Commissioner’s proposed action is automatically stayed until an order by the Commissioner is made after the hearing.
(Added to NRS by 1971, 1584; A 1975, 1304; 1987, 643)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.205 - Determination of hazardous financial condition of insurer: Regulations; hearing; disciplinary actions; review of order.

1. The Commissioner may adopt regulations to define when an insurer is considered to be in a hazardous financial condition and to set forth the standards to be considered by the Commissioner in determining whether the continued operation of an insurer transacting business in this state may be considered to be hazardous to its policyholders or creditors or to the general public.
2. If the Commissioner determines after a hearing that any insurer is in a hazardous financial condition, the Commissioner may, instead of suspending or revoking the insurer’s certificate of authority, limit the insurer’s certificate of authority as the Commissioner deems reasonably necessary to correct, eliminate or remedy any conduct, condition or ground that is deemed to be a cause of the hazardous financial condition.
3. An order or decision of the Commissioner under this section is subject to review in accordance with NRS 679B.310 to 679B.370, inclusive, at the request of any party to the proceedings whose interests are substantially affected.
(Added to NRS by 1995, 1752)
2023 Nevada Revised Statutes › Chapter 680A - Authorization of Insurers and General Requirements › NRS 680A.210 - Suspension, limitation or revocation of or refusal to continue certificate of authority: Order and notice; effect on agents’ authority.

1. All suspensions, limitations or revocations of, or refusals to continue, an insurer’s certificate of authority must be by the Commissioner’s order given to the insurer.
2. Upon issuance of the order, the Commissioner shall forthwith give notice thereof to the insurer’s agents in this state, of record in the Division, and shall also suspend, limit or revoke the authority of such agents to represent the insurer.
(Added to NRS by 1971, 1585; A 1991, 1621; 1993, 1904)