reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.450 - Permissible charges: Late payment; returned check; collection costs or attorney’s fees.

1. A company shall not impose or collect a fee or charge which is not authorized by this section.
2. An agreement may provide for a charge for any late payment of an installment of not less than $1 and not more than 5 percent of the installment.
3. A company may collect a fee of not more than $15 for each check returned to the company because the insured had insufficient money or credit with the drawee to pay the check or because the insured stopped payment on the check.
4. An agreement may provide for payment of collection costs or attorney’s fees, equal to 20 percent of the outstanding indebtedness if the agreement is referred for collection to a collection agency or attorney who is not an employee of the company.
(Added to NRS by 1985, 1156; A 1993, 2395)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.460 - Cancellation of insurance policy listed in agreement containing power of attorney enabling cancellation by company.

1. When an agreement contains a power of attorney enabling the company, in the name of the insured, to cancel any insurance policy listed in the agreement, the insurance policy must not be cancelled by the company unless it is cancelled in accordance with this section.
2. A company shall mail written notice of its intent to cancel an insurance policy because of a default in payment under an agreement to the insured at the last known address of the insured as indicated in the records of the company and to the agent who submitted the agreement at least 10 days before the cancellation. If the default is cured within this 10-day period, the company shall not cancel the insurance policy.
3. If the default is not cured within the 10-day period, the company may cancel the policy if it mails to the insured at the last known address of the insured as indicated in the records of the company and to the insurer a notice of cancellation which must include the effective date of cancellation. The policy must be cancelled as if the notice of cancellation had been submitted by the insured, but without requiring the return of the policy.
4. No insurance policy may be cancelled for nonpayment of a charge for a late payment.
5. This section does not authorize the cancellation of an insurance policy without giving any other notice required by law or satisfying other conditions for cancellation.
6. A company shall not impose or collect a fee for the cancellation of a policy or agreement.
(Added to NRS by 1985, 1157; A 1993, 2396)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.470 - Return of unearned premium and commission.

1. When an insurance policy is cancelled pursuant to NRS 686A.460, the insurer shall return the unearned premium to the company for credit to the account of the insured. The premium must be mailed to the company:
(a) Within 45 days after receipt of the notice of cancellation; or
(b) Immediately following an audit performed to determine the amount of the premium. If such an audit is performed, it must be completed within 60 days after receipt of the notice of cancellation.
2. If the returned portion of the premium exceeds the insured’s obligation to the company, the company shall pay the excess to the insured within 30 days after receipt, except that no refund is required if the excess is less than $1.
3. If the returned portion of the premium is less than the insured’s obligation to the company, the company shall notify the insured within 15 days making a demand for payment, except that the company shall not make a demand for payment if the obligation is less than $1.
4. The company shall notify the agent who submitted the agreement of any refund paid directly to the insured pursuant to subsection 2 at the time the refund is paid. Within 15 days after receipt of this notice, the agent shall refund to the insured any unearned commissions which are owed to the insured as a result of the cancellation.
5. The company shall notify the agent who submitted the agreement of any deficiency. Within 30 days after receipt of the notice, the agent shall refund to the insured any unearned commissions which are owed to the insured as a result of the cancellation.
(Added to NRS by 1985, 1157; A 1993, 2396)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.480 - Prohibited payments: Membership in motor club; policy of insurance covering accidental death or dismemberment.

An agreement must not include any payment for:
1. Membership in a motor club, as that term is defined in NRS 696A.050; or
2. A policy of insurance covering accidental death or dismemberment, whether or not the policy is sold in combination with another policy.
(Added to NRS by 1985, 1157)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.490 - No recourse against agent based on insured’s default in payments; limitation on inducements; prohibited acts by company, agent or broker related to submission of agreement.

1. No agreement may contain a provision allowing a company recourse against the agent who submitted the agreement based upon the insured’s default in payments.
2. A company, broker or an agent of a company shall not offer to any person as an inducement to enter an agreement any gift, rebate or other consideration unless the consideration is an article of less than $2 in value which includes an advertisement of the company. This subsection does not prohibit a company from providing to a broker or an agent who submits the agreement to the company any supplies or equipment necessary to submit the agreement to the company. Any such supplies or equipment which is not disposable remains the property of the company.
3. A company or an agent or broker submitting an agreement shall not:
(a) Induce or attempt to induce an insured to become obligated under more than one agreement to obtain more than one initial charge for entering the agreement.
(b) Write any insurance in connection with the agreement, including life or health insurance limited to the amount advanced on behalf of the insured.
(Added to NRS by 1985, 1158; A 1993, 2397)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.500 - Disclosure of financial interest required; agent or broker who submits or performs services in connection with agreement prohibited from receiving compensation.

1. Any licensed resident or nonresident agent or broker who has any financial interest in a company, other than in submitting agreements through the company, shall disclose to the insured, in the manner prescribed by the Commissioner, his or her interest in the company.
2. A licensed resident or nonresident agent or broker who submits any agreement shall not accept any compensation for arranging, directing or performing services in connection with the agreement. A company shall not pay or offer to pay any compensation to a licensed resident or nonresident agent or broker who submits an agreement to the company.
(Added to NRS by 1985, 1158; A 1993, 2397)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.510 - Penalties.

1. A person who violates the provisions of NRS 686A.340 shall be punished by a fine of not more than $200 per day or $500 per agreement per day for every day the violation continues, whichever is greater.
2. A person who violates any other provision of NRS 686A.330 to 686A.520, inclusive, shall be punished by a fine of not more than $1,000.
3. A person who fails or refuses to comply with an order issued by the Commissioner pursuant to NRS 686A.330 to 686A.520, inclusive, shall be punished by a fine of not more than $1,000.
(Added to NRS by 1985, 1158; A 1993, 2397)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.520 - Applicability of other provisions.

1. The provisions of NRS 683A.341, 683A.451, 683A.461 and 686A.010 to 686A.310, inclusive, apply to companies.
2. For the purposes of subsection 1, unless the context requires that a section apply only to insurers, any reference in those sections to "insurer" must be replaced by a reference to "company."
(Added to NRS by 1985, 1158; A 2001, 2215; 2019, 1704; 2021, 901; 2023, 20, 3284)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.600 - Definitions.

As used in NRS 686A.600 to 686A.730, inclusive, unless the context otherwise requires, the words and terms defined in NRS 686A.610 to 686A.660, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2003, 2801; A 2011, 3368)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.610 - "Adverse action" defined.

"Adverse action" means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with any policy.
(Added to NRS by 2003, 2801)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.630 - "Consumer credit report" defined.

"Consumer credit report" means any written, oral or other communication of information by a consumer reporting agency bearing on the credit worthiness, credit standing or credit capacity of an applicant or policyholder, and which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor to determine:
1. Whether to issue, cancel or renew a policy; or
2. The amount of the premium for a policy.
(Added to NRS by 2003, 2802)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.640 - "Consumer reporting agency" defined.

"Consumer reporting agency" means any person which, for monetary fees, dues or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer credit reports to third parties.
(Added to NRS by 2003, 2802)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.650 - "Credit information" defined.

"Credit information" means any information that is related to credit and derived from a consumer credit report, found on a consumer credit report or provided on an application for a policy. The term does not include information that is not related to credit, regardless of whether it is contained in a consumer credit report or in an application for a policy, or is used to calculate an insurance score.
(Added to NRS by 2003, 2802)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.660 - "Insurance score" defined.

"Insurance score" means a number or rating that is derived from an algorithm, computer application, model or other process that is based in whole or in part on credit information for the purposes of predicting the future losses or exposure with regard to an applicant or policyholder.
(Added to NRS by 2003, 2802)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.670 - Applicability.

The provisions of NRS 686A.600 to 686A.730, inclusive, do not apply to a contract of surety insurance issued pursuant to chapter 691B of NRS or any commercial or business policy.
(Added to NRS by 2003, 2802; A 2011, 3368)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.685 - Insurer that uses credit information to provide reasonable exceptions in certain circumstances.

1. Notwithstanding any other law or regulation, an insurer that uses credit information shall, upon receipt of a written request from an applicant or policyholder, provide reasonable exceptions to the insurer’s rates, rating classifications, company or tier placement, or underwriting rules or guidelines for an applicant or policyholder who has experienced and whose credit information has been directly influenced by any of the following:
(a) A catastrophic event, as declared by the Federal or State Government;
(b) A serious illness or injury, or a serious illness or injury to an immediate family member;
(c) The death of a spouse, child or parent;
(d) Divorce or involuntary interruption of legally-owed alimony or support payments;
(e) Identify theft;
(f) Temporary loss of employment for a period of 3 months or more, if it results from involuntary termination;
(g) Military deployment overseas; or
(h) Other events, as determined by the insurer.
2. If an applicant or policyholder submits a request for an exception as set forth in subsection 1, an insurer may, in its sole discretion:
(a) Require the applicant or policyholder to provide reasonable written and independently verifiable documentation of the event;
(b) Require the applicant or policyholder to demonstrate that the event had direct and meaningful impact on the credit information of the applicant or policyholder;
(c) Require that such a request be made not more than 60 days after the date of the application for insurance or the policy renewal;
(d) Grant an exception despite the applicant or policyholder not providing the initial request for an exception in writing; or
(e) Grant an exception where the applicant or policyholder asks for consideration of repeated events or the insurer has considered this event previously.
3. An insurer is not out of compliance with any law or rule relating to underwriting, rating or rate filing as a result of granting an exception under this section. Nothing in this section shall be construed to provide an applicant or policyholder with a cause of action that does not exist in the absence of this section.
4. The insurer shall provide notice to each applicant and policyholder that reasonable exceptions are available and include information about how the applicant or policyholder may inquire further about such exceptions.
5. Within 30 days after the insurer’s receipt of sufficient documentation of an event described in subsection 1, the insurer shall inform the applicant or policyholder of the outcome of the request for a reasonable exception. Such communication must be in writing or provided to the applicant or policyholder in the same medium as the request.
6. The Commissioner may adopt regulations to carry out the provisions of this section.
(Added to NRS by 2011, 3367)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.690 - Reunderwriting or rerating of insured; refund of premium.

If it is determined pursuant to the dispute resolution process set forth in section 611(a) of the federal Fair Credit Reporting Act, 15 U.S.C. § 1681i(a), that the credit information of a policyholder was incorrect or incomplete and if the insurer receives notice of such determination from either the consumer reporting agency or from the policyholder, the insurer shall reunderwrite and rerate the policyholder within 30 days of receiving the notice. After reunderwriting or rerating the insured, the insurer shall make any adjustments necessary, consistent with its underwriting and rating guidelines. If an insurer determines that the policyholder has overpaid a premium, the insurer shall refund to the policyholder the amount of overpayment calculated back to the shorter of either the last 12 months of coverage or the actual period of the policy.
(Added to NRS by 2003, 2804)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.700 - Disclosure of use of credit information.

1. If an insurer uses credit information in underwriting or rating an applicant, the insurer or its agent shall disclose, either on the application for the policy or at the time the application is taken, that the insurer may obtain credit information in connection with the application. The disclosure must be written or provided to an applicant in the same medium as the application. The insurer need not provide the disclosure required pursuant to this subsection to a policyholder upon renewal of a policy if the policyholder was previously provided the disclosure in connection with the policy. An insurer may comply with the requirements of this subsection by providing the following statement:
In connection with this application for insurance, we may review your credit report or obtain or use a credit-based insurance score based on the information contained in that credit report. We may use a third party in connection with the development of your insurance score.
2. The Division shall post on its Internet website a list of each insurer that does not use an insurance score when underwriting, rating an applicant for or calculating the premium for a policy of insurance for a passenger car or homeowner’s insurance and shall update this list on July 1 of each year.
3. The Division may post on its Internet website, without limitation:
(a) General information concerning the use of an insurance score in underwriting, rating an applicant for or calculating the premium for a policy of insurance; and
(b) Applicable laws governing the manner in which an insurance score may be used.
4. As used in this section, "passenger car" has the meaning ascribed to it in NRS 482.087.
(Added to NRS by 2003, 2804; A 2013, 432)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.710 - Notice requirements after taking adverse action.

If an insurer takes an adverse action based upon credit information, the insurer shall:
1. Provide notice to the applicant or policyholder that an adverse action has been taken, in accordance with the requirements of section 615(a) of the federal Fair Credit Reporting Act, 15 U.S.C. § 1681m(a).
2. Provide notice to the applicant or policyholder explaining the reasons for the adverse action. The reasons must be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer’s decision to take the adverse action. The notice must include a description of not more than four factors that were the primary influences of the adverse action. The use of generalized terms such as "poor credit history," "poor credit rating" or "poor insurance score" does not meet the requirements of this subsection. The notice required by this subsection must be provided in a form approved by the Commissioner.
(Added to NRS by 2003, 2804; A 2007, 731)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.720 - Indemnification of agent by insurer.

1. An insurer shall indemnify, defend and hold harmless an agent of the insurer from and against all liability, fees and costs arising out of or relating to the actions, errors or omissions of the agent with regard to obtaining or using credit information or insurance scores for the insurer, if the agent follows the instructions of or procedures established by the insurer and complies with any applicable law or regulation.
2. This section does not provide, expand, limit or prohibit any cause of action an applicant or policyholder may have against an agent of an insurer.
(Added to NRS by 2003, 2804)
2023 Nevada Revised Statutes › Chapter 686A - Trade Practices and Frauds; Financing of Premiums › NRS 686A.730 - Consumer reporting agencies: Prohibitions; exemptions.

1. A consumer reporting agency shall not provide or sell data or lists that include any information that in whole or in part was submitted in conjunction with:
(a) An inquiry by or for an insurer about the credit information of an applicant or policyholder; or
(b) A request for a credit report or insurance score.
2. The information described in subsection 1 includes, without limitation:
(a) The expiration date of a policy or any other information that may identify time periods during which a policy of an applicant or policyholder may expire; and
(b) The terms and conditions of the coverage provided by a policy of an applicant or policyholder.
3. The restriction set forth in subsection 1 does not apply to data or lists the consumer reporting agency supplies to the insurer, or an agent or affiliate of the insurer, from whom the information was received.
4. The provisions of this section do not restrict any insurer from being able to obtain a report regarding a motor vehicle or a report of a history of claims.
(Added to NRS by 2003, 2805)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.010 - Construction and purposes.

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 policyholders and the public against the adverse effects of excessive, inadequate or unfairly discriminatory rates;
(b) Encourage, as the most effective way to produce rates that conform to the standards of paragraph (a), independent action by and reasonable price competition among insurers;
(c) Provide formal regulatory controls for use if independent action and price competition fail;
(d) Authorize cooperative action among insurers in the rate-making process, and to regulate such cooperation in order to prevent practices that tend to bring about monopoly or to lessen or destroy competition;
(e) Encourage the most efficient and economic marketing practices; and
(f) Regulate the business of insurance in a manner that will preclude application of federal antitrust laws.
(Added to NRS by 1971, 1698; A 1985, 1067; 2017, 2344; 2019, 1434)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.020 - Definitions.

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 this subsection, two or more insurers with common ownership or operating in this State under common ownership constitute a single insurer. An advisory organization does not include:
(a) A joint underwriting association;
(b) An actuarial or legal consultant; or
(c) An employee or manager of an insurer.
2. "Market segment" means any line or kind of insurance or, if it is described in general terms, any subdivision thereof or any class of risks or combination of classes.
3. "Rate service organization" means any person, other than an employee of an insurer, who assists insurers in rate making or filing by:
(a) Collecting, compiling and furnishing loss or expense statistics;
(b) Recommending, making or filing rates or supplementary rate information; or
(c) Advising about rate questions, except as an attorney giving legal advice.
4. "Supplementary rate information" includes any manual or plan of rates, statistical plan, classification, rating schedule, minimum premium, policy fee, rating rule, rule of underwriting relating to rates and any other information prescribed by regulation of the Commissioner.
(Added to NRS by 1971, 1698; A 1985, 1067; 1991, 2117; 1995, 2055; 2003, 3351; 2017, 2345; 2019, 1434)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.030 - Applicability.

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) Contracts issued by fraternal benefit societies;
(c) Life insurance and credit life insurance;
(d) Variable and fixed annuities;
(e) Credit accident and health insurance;
(f) Property insurance for business and commercial risks;
(g) Casualty insurance for business and commercial risks other than insurance covering the liability of a practitioner licensed pursuant to chapters 630 to 640, inclusive, of NRS or who holds a license or limited license issued pursuant to chapter 653 of NRS;
(h) Surety insurance;
(i) Health insurance offered through a group health plan maintained by a large employer; and
(j) Credit involuntary unemployment insurance.
2. The exclusions set forth in paragraphs (f) and (g) of subsection 1 extend only to issues related to the determination or approval of premium rates.
(Added to NRS by 1971, 1699; A 1971, 1943; 1985, 1067; 1993, 2397; 1995, 2056; 2003, 3304; 2011, 3368; 2013, 3604; 2017, 2345; 2019, 1434, 2740; 2023, 1710)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.040 - Exemptions.

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 those sections.
2. The Commissioner may not, by rule or otherwise, exempt an insurer from the provisions of NRS 686B.010 to 686B.1799, inclusive, with regard 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.
(Added to NRS by 1971, 1699; A 1985, 1068; 2003, 919, 3352; 2017, 2346; 2019, 1435)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.045 - Waiver for state innovation of applicable provisions of Patient Protection and Affordable Care Act; implementation of state plan.

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 or after January 1, 2020.
2. The Commissioner may implement a state plan that meets the waiver requirements in a manner consistent with state and federal law and as approved by the Secretary of Health and Human Services.
(Added to NRS by 2019, 1433)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.050 - Standards.

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 consumer level with respect to the class of business to which they apply. In determining whether a reasonable degree of price competition exists, the Commissioner shall consider all relevant tests, including:
(a) The number of insurers actively engaged in the class of business and their shares of the market;
(b) The existence of differentials in rates in that class of business;
(c) Whether long-run profitability for insurers generally of the class of business is unreasonably high in relation to its riskiness;
(d) Consumers’ knowledge in regard to the market in question; and
(e) Whether price competition is a result of the market or is artificial.
If competition does not exist, rates are excessive if they are likely to produce a long-run profit that is unreasonably high in relation to the riskiness of the class of business, or if expenses are unreasonably high in relation to the services rendered.
3. Rates are inadequate if they are clearly insufficient, together with the income from investments attributable to them, to sustain projected losses and expenses in the class of business to which they apply.
4. One rate is unfairly discriminatory in relation to another in the same class if it clearly fails to reflect equitably the differences in expected losses and expenses. Rates are not unfairly discriminatory because different premiums result for policyholders with similar exposure to loss but different expense factors, or similar expense factors but different exposure to loss, so long as the rates reflect the differences with reasonable accuracy. Rates are not unfairly discriminatory if they are averaged broadly among persons insured under a group, franchise or blanket policy.
(Added to NRS by 1971, 1699; A 1987, 1533)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.060 - Determination of whether rates comply with standards.

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 state, to loadings for leveling premium rates over time or for dividends or savings to be allowed or returned by insurers to their policyholders, members or subscribers, and to all other relevant factors, including the judgment of technical personnel.
2. Risks may be classified in any reasonable way for the establishment of rates and minimum premiums, except that classifications may not be based on race, color, creed, national origin, sexual orientation or gender identity or expression. Rates thus produced may be modified for individual risks in accordance with rating plans or schedules which establish reasonable standards for measuring probable variations in hazards, expenses, or both.
3. The expense provisions included in the rates to be used by an insurer may reflect the operating methods of the insurer and, so far as it is credible, its own expense experience.
4. The rates may contain an allowance permitting a profit that is not unreasonable in relation to the riskiness of the class of business.
(Added to NRS by 1971, 1700; A 2017, 1079)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.070 - Filing of rates, forms of related policies and supplementary information and any changes and amendments thereof with Commissioner.

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 all:
(a) Rates and proposed increases thereto;
(b) Forms of policies to which the rates apply;
(c) Supplementary rate information; and
(d) Changes and amendments thereof,
made by it for use in this state.
2. A filing made pursuant to this section must include a proposed effective date and must be filed not less than 30 days before that proposed effective date, except that a filing for a proposed increase or decrease in a rate may include a request that the Commissioner authorize an effective date that is earlier than the proposed effective date.
3. If an insurer makes a filing for a proposed increase in a rate for 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, the insurer shall not include in the filing any component that is directly or indirectly related to the following:
(a) Capital losses, diminished cash flow from any dividends, interest or other investment returns, or any other financial loss that is materially outside of the claims experience of the professional liability insurance industry, as determined by the Commissioner.
(b) Losses that are the result of any criminal or fraudulent activities of a director, officer or employee of the insurer.
If the Commissioner determines that a filing includes any such component, the Commissioner shall, pursuant to NRS 686B.110, disapprove the proposed increase, in whole or in part, to the extent that the proposed increase relies upon such a component.
4. If an insurer makes a filing for a proposed increase in a rate for a health benefit plan, as that term is defined in NRS 687B.470, the filing must include a unified rate review template, a written description justifying the rate increase and any rate filing documentation.
5. As used in this section, "rate filing documentation," "unified rate review template" and "written description justifying the rate increase" have the meanings ascribed in 45 C.F.R. § 154.215.
(Added to NRS by 1971, 1700; A 1981, 698; 1987, 1533; 1989, 2176; 2003, 919, 3352; 2013, 257, 3605)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.080 - Filing and supporting information open to public inspection; copies; exceptions.

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 charge therefor.
2. All rates for health benefit plans available for purchase by individuals and small employers are considered proprietary and constitute trade secrets, and are not subject to disclosure by the Commissioner to persons outside the Division except as agreed to by the carrier or as ordered by a court of competent jurisdiction.
3. The provisions of subsection 2 expire annually on the date 30 days before open enrollment.
4. Except in cases of violations of NRS 689A.010 to 689A.740, inclusive, or 689C.015 to 689C.355, inclusive, the unified rate review template and rate filing documentation used by carriers servicing the individual and small employer markets are considered proprietary and constitute a trade secret, and are not subject to disclosure by the Commissioner to persons outside the Division except as agreed to by the carrier or as ordered by a court of competent jurisdiction.
5. An insurer providing blanket health insurance in accordance with the provisions of chapter 689B of NRS shall make all information concerning rates available to the Commissioner upon request. Such information is considered proprietary and constitutes a trade secret and is not subject to disclosure by the Commissioner to persons outside the Division except as agreed by the insurer or as ordered by a court of competent jurisdiction.
6. For the purposes of this section:
(a) "Open enrollment" has the meaning ascribed to it in 45 C.F.R. § 147.104(b)(1)(ii).
(b) "Rate filing documentation" and "unified rate review template" have the meanings ascribed to them in 45 C.F.R. § 154.215.
(Added to NRS by 1971, 1700; A 1985, 1068; 2013, 3605; 2015, 3471; 2019, 1435)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.090 - Rates and supplementary information: Established based on factors or through modified use of rate service organization in certain circumstances.

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 expense and loss experience.
2. An insurer may discharge its obligation under subsection 1 of NRS 686B.070 by giving notice to the Commissioner that it uses rates and supplementary rate information prepared by a designated rate service organization, with such information about modifications thereof as are necessary fully to inform the Commissioner. The insurer’s rates and supplementary rate information shall be deemed those filed from time to time by the rate service organization, including any amendments thereto as filed, subject to the modifications filed by the insurer.
(Added to NRS by 1971, 1701; A 1987, 1534; 2003, 920, 3353)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.100 - Filing of supporting data.

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 must include:
(a) The experience and judgment of the filer, and, to the extent it wishes or the Commissioner requires, of other insurers or rate service organizations;
(b) Its interpretation of any statistical data relied upon;
(c) Descriptions of the actuarial and statistical methods employed in setting the rates; and
(d) Any other relevant matters required by the Commissioner.
2. Whenever a filing of a proposed increase in a rate is not accompanied by such information as the Commissioner has required under subsection 1, the Commissioner may so inform the insurer and the filing shall be deemed to be made when the information is furnished.
(Added to NRS by 1971, 1701; A 1985, 1068; 1987, 1534; 1989, 601, 2176)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.115 - Hearing on rates open to public; cost for transcripts; public testimony.

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 held by the Commissioner to determine whether rates comply with the provisions of NRS 686B.010 to 686B.1799, inclusive, and which involves rates for 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, if a person is not otherwise authorized pursuant to this title to become a party to the hearing by intervention, the person is entitled to provide testimony at the hearing if, not later than 2 days before the date set for the hearing, the person files with the Commissioner a written statement which states:
(a) The name and title of the person;
(b) The interest of the person in the hearing; and
(c) A brief summary describing the purpose of the testimony the person will offer at the hearing.
4. If a person provides testimony at a hearing in accordance with subsection 3:
(a) The Commissioner may, if the Commissioner finds it necessary to preserve order, prevent inordinate delay or protect the rights of the parties at the hearing, place reasonable limitations on the duration of the testimony and prohibit the person from providing testimony that is not relevant to the issues raised at the hearing.
(b) The Commissioner shall consider all relevant testimony provided by the person at the hearing in determining whether the rates comply with the provisions of NRS 686B.010 to 686B.1799, inclusive.
(Added to NRS by 1987, 1532; A 1995, 1623; 2003, 921; 2017, 2347; 2019, 1438)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.117 - Intervention in hearing on rates.

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 association of persons or organization whose members may be affected, may intervene as a matter of right in any hearing or other proceeding conducted to determine whether the applicable rate or proposed increase thereto:
1. Complies with the standards set forth in NRS 686B.050 and subsection 3 of NRS 686B.070.
2. Should be approved or disapproved.
(Added to NRS by 2003, 3351; A 2013, 259)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.119 - Notice to policyholders by insurer of material change in premiums based upon change in zip code of policyholder by United States Postal Service; regulations.

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.
(Added to NRS by 1991, 2117)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.130 - Licensing of rate service organization and advisory organization: Required to provide services relating to rates of certain insurance; services of rate service organization and advisory organization required to be offered to any insurer.

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 NRS 686B.140.
2. A rate service organization and an advisory organization shall not refuse to supply any services for which it is licensed in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services.
(Added to NRS by 1971, 1702; A 1985, 1069; 1995, 2056; 2019, 1439)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.143 - Payment of child support: Statement by applicant for license; grounds for denial of license; duty of Commissioner. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

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 Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.
2. The Commissioner shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license; or
(b) A separate form prescribed by the Commissioner.
3. A license as a rate service organization may not be issued or renewed by the Commissioner if the applicant is a natural person who:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
(Added to NRS by 1997, 2196)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.147 - Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

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 license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
2. The Commissioner shall reinstate a license as a rate service organization that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
(Added to NRS by 1997, 2196)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.150 - Binding agreements by insurers relating to rates and rules.

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.
(Added to NRS by 1971, 1703)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.160 - Rules providing statistical plans for use by insurers in recording and reporting of experience; authorized designation of rate service organization to assist Commissioner in gathering and compiling experience for availability to public.

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 rate service organizations to assist the Commissioner in gathering such experience and making compilations thereof, which must be made available to the public.
(Added to NRS by 1971, 1703; A 1987, 1535)
2023 Nevada Revised Statutes › Chapter 686B - Rates and Essential Insurance › NRS 686B.175 - Commissioner authorized to assess insurers for state contribution for federally reinsured losses.

1. The Commissioner is authorized to assess each insurance company authorized to do business in this state an aggregate amount sufficient to provide a fund to reimburse the Secretary of Housing and Urban Development in the manner set forth in section 1223(a)(1) of the National Housing Act as amended by section 1103 of the Urban Property Protection and Reinsurance Act of 1968, P.L. 90-448, 82 Stat. 476. The assessment shall be on those lines reinsured during the current year in this state by the Secretary of Housing and Urban Development pursuant to such act. The assessment shall be in the proportion that the premiums earned during the preceding calendar year by each such company in this state bear to the aggregate premiums earned on those lines in this state by all insurers. The fund may be provided in whole or in part from appropriations by the Legislature.
2. Rates used by an insurer shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments made under this section.
(Added to NRS by 1971, 1707)