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2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.050 - Insurable interest: Exception when certain institutions designated beneficiary.

1. Life insurance contracts may be entered into in which the person paying the consideration for the insurance has no insurable interest in the life of the individual insured, where charitable, benevolent, educational or religious institutions or their agencies are designated irrevocably as the beneficiaries thereof.
2. In making such contracts the person paying the premium shall make and sign the application therefor as owner, and shall designate irrevocably a charitable, benevolent, educational or religious institution or an agency thereof as the beneficiary or beneficiaries of such contract. The application shall be signed also by the individual whose life is to be insured.
3. Nothing in this section shall prohibit any combination of the applicant, premium payer, owner and beneficiary from being the same person.
4. Such a contract shall be valid and binding among the parties thereto, notwithstanding the absence otherwise of an insurable interest in the life of the individual insured.
(Added to NRS by 1971, 1713)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.060 - Insurable interest: Property.

1. No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss.
2. "Insurable interest" as used in this section means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction or pecuniary damage or impairment.
(Added to NRS by 1971, 1714)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.070 - Power to contract; purchase of insurance and annuities by minors.

1. Any person of competent legal capacity may contract for insurance.
2. Any minor not less than 16 years of age may, notwithstanding his or her minority, contract for or own annuities or insurance, or affirm by novation or otherwise preexisting contracts for annuities or insurance, upon his or her own life, body, health, property, liabilities or other interests, or on the person of another in whom the minor has an insurable interest. Notwithstanding such minority such a minor shall be deemed competent to exercise all rights and powers with respect to or under:
(a) Any annuity or insurance contract upon the minor’s own life, body or health;
(b) Any contract which such minor effected upon his or her own property, liabilities or other interests; or
(c) Any contract effected or owned by the minor on the person of another, as might be exercised by a person of full legal age.
3. Such a minor may at any time surrender his or her interest in any such contracts and give valid discharge for any benefit accruing or money payable thereunder. Such a minor shall not, by reason of his or her minority, be entitled to rescind, avoid or repudiate the contract, or to rescind, avoid or repudiate any exercise of a right or privilege thereunder, except that such a minor, not otherwise emancipated, shall not be bound by any unperformed agreement to pay, by promissory note or otherwise, any premium on any such annuity or insurance contract.
4. All insurance contracts made by a minor under the age of 16 years shall be made only with the written consent of a parent or guardian, and the exercise of all contractual rights under such contracts, or the surrender thereof, or the giving of a valid discharge for any benefit accruing or money payable thereunder shall have the written consent of a parent or guardian if made or given while such minor is under the age of 16 years.
5. All such contracts made by a minor which may result in any personal liability for assessment shall have the written assumption of any such liability by a parent or guardian in consideration of the issuance of the contract. Such assumption shall be in a form approved by the Commissioner, reasonably designed to inform the parent or guardian of the liability thus assumed. Such assumption of liability may be made a part of and included with any written consent of such parent or guardian required under the provisions of this section, and it may be provided therein that such assumption shall cover only up to the anniversary date of the policy nearest the insured’s birthday upon which the insured attains the age of 18 years.
6. Any annuity contract or policy of life or health insurance procured by or for a minor under subsection 2 or 3, shall be made payable either to the minor or the estate of the minor or to a person having an insurable interest in the life of the minor.
(Added to NRS by 1971, 1714; A 1973, 1581)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.080 - Consent of insured to life or health insurance required; exceptions; notice of application for or request to increase coverage of insurance upon life of another required.

1. Except as otherwise provided in subsection 2, no life or health insurance contract upon a person, except a contract of group life insurance or of group or blanket health insurance, may be made or effectuated unless at the time of the making of the contract the person insured, being of competent legal capacity to contract, applies therefor or has consented thereto in writing.
2. The following persons may enter into a contract for life or health insurance upon another person without the insured’s written consent:
(a) A spouse may effectuate such insurance upon the other spouse.
(b) Any person having an insurable interest in the life of a minor, or any person upon whom a minor is dependent for support and maintenance, may effectuate insurance upon the life of or pertaining to the minor.
(c) Family policies may be issued insuring any two or more members of a family on an application signed by either parent, a stepparent, a guardian, or by a spouse.
3. An insurer who receives:
(a) An application in accordance with subsection 2 for a contract for insurance upon the life of another; or
(b) A request to increase the existing coverage upon the life of an insured by a person other than the insured,
shall, unless the application or request relates to a contract of group life insurance or of group or blanket health insurance, cause notice of the application or request to be mailed to the insured at the home or business of the insured within 48 hours after receiving the application or request.
(Added to NRS by 1971, 1715; A 1993, 173; 2017, 799)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.090 - Alteration of application: Life and health insurance.

No alteration of any written application for any life or health insurance policy shall be made by any person other than the applicant without the written consent of the applicant, except that insertions may be made by the insurer, for administrative purposes only, in such manner as to indicate clearly that such insertions are not to be ascribed to the applicant.
(Added to NRS by 1971, 1715)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.100 - Application as evidence.

1. No application for the issuance of any life or health insurance policy or annuity contract shall be admissible in evidence in any action relative to such policy or contract, unless a true copy of the application was attached to or otherwise made a part of the policy or contract when issued. This subsection does not apply to industrial life insurance policies.
2. If any policy of life or health insurance delivered in this state is reinstated or renewed, and the insured or the beneficiary or assignee of the policy makes written request to the insurer for a copy of the application, if any, for such reinstatement or renewal, the insurer shall, within 30 days after receipt of such request at its home office, deliver or mail to the person making such request a copy of such application reproduced by any legible means. If such copy is not so delivered or mailed after having been so requested, the insurer shall be precluded from introducing the application in evidence in any action or proceeding based upon or involving the policy or its reinstatement or renewal. In the case of such a request from a beneficiary or assignee, the time within which the insurer is required to furnish a copy of such application shall not begin to run until after receipt of evidence satisfactory to the insurer of the beneficiary’s or assignee’s vested interest in the policy or contract.
3. As to kinds of insurance other than life or health insurance, no application for insurance signed by or on behalf of the insured shall be admissible in evidence in any action between the insured and the insurer arising out of the policy so applied for, if the insurer has failed, at the expiration of 30 days after receipt by the insurer of written demand therefor by or on behalf of the insured, to furnish to the insured a copy of such application reproduced by any legible means.
(Added to NRS by 1971, 1715)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.110 - Representations in applications.

All statements and descriptions in any application for an insurance policy or annuity contract, by or in behalf of the insured or annuitant, shall be deemed to be representations and not warranties. Misrepresentations, omissions, concealment of facts and incorrect statements shall not prevent a recovery under the policy or contract unless either:
1. Fraudulent;
2. Material either to the acceptance of the risk, or to the hazard assumed by the insurer; or
3. The insurer in good faith would either not have issued the policy or contract, or would not have issued it at the same premium rate, or would not have issued a policy or contract in as large an amount, or would not have provided coverage with respect to the hazard resulting in the loss, if the true facts had been made known to the insurer as required either by the application for the policy or contract or otherwise.
(Added to NRS by 1971, 1716)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.113 - Control of cost of health care: Provisions encouraging use of certain services and facilities.

An insurer shall include provisions in a policy of health insurance encouraging the insured’s use, if medically appropriate, of services and facilities that are the most efficient or that tend to control or reduce the cost of health care. Any policy or other form filed with the Commissioner pursuant to NRS 687B.120 must specifically indicate which provisions satisfy the requirements of this section.
(Added to NRS by 1985, 1227)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.117 - Control of cost of health care: Insurer required to use three or more practices that control cost in administering benefits.

The Commissioner shall not approve any proposed policy of health insurance unless the Commissioner determines that the insurer has adopted and is using three or more practices in administering benefits that control or reduce the cost of health care.
(Added to NRS by 1985, 1227)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.122 - Readability of policies: Applicability of requirements.

1. The provisions of NRS 687B.122 to 687B.128, inclusive:
(a) Apply to all policies, certificates or contracts of life or health insurance, including credit insurance as defined in NRS 690A.015, delivered or issued for delivery in this state, including policies, certificates or contracts issued by fraternal benefit societies and hospital, medical or dental service corporations, health maintenance organizations and other similar organizations, and certificates issued pursuant to a policy of group insurance delivered or issued for delivery in this state, except:
(1) Any policy which is a security subject to federal jurisdiction;
(2) Any policy covering the lives of a group of 1,000 or more persons as of its date of issuance, other than a group policy for credit insurance and any certificate issued pursuant to any group policy;
(3) Any group annuity which serves to finance pension, profit-sharing or deferred compensation plans; or
(4) Any form used in connection with, as a conversion from, as an addition to or in exchange for a policy delivered or issued for delivery on a form approved or permitted to be issued before July 1, 1983.
(b) Are not intended to increase any risk assumed by an insurer.
(c) Do not supersede the provisions of this title or other law applicable to the delivery or issuance of policies of insurance.
(d) Are not intended to restrict or discourage the development of new policies and provisions.
(e) Do not require standardization of forms for or provisions of policies.
2. Any policy written in a language other than English shall be deemed to comply with NRS 687B.124 if the insurer certifies that it is translated from a policy written in English which complies with that section.
3. The provisions of NRS 687B.122 to 687B.128, inclusive, apply to renewals on or after July 1, 1983, of policies delivered or issued for delivery before that date.
(Added to NRS by 1981, 927; A 1987, 2286)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.126 - Readability of policies: Filing policy for Commissioner’s approval; exceptions to score requirements on Flesch test.

1. An insurer shall file a copy of the policy with the Commissioner accompanied by a certificate signed by an officer of the insurer stating that the policy meets the score required for reading ease or stating that the score is lower than the minimum required and requesting that it be approved in accordance with subsection 2. Upon the request of the Commissioner, the insurer shall furnish additional information to verify the accuracy of the certification.
2. The Commissioner may approve a policy which has a score lower than required whenever the Commissioner finds that a lower score:
(a) Provides a more accurate reflection of the readability of a policy;
(b) Is necessitated by the nature of a particular type or class of policy; or
(c) Is caused by language in the policy which is drafted in a particular manner so as to meet the requirements of any state law, regulation or interpretation of that law or regulation by a state agency.
(Added to NRS by 1981, 928)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.128 - Readability of policies: Required approval by Commissioner in certain circumstances.

A policy which complies with subsection 1 of NRS 687B.124 must be approved by the Commissioner, notwithstanding any other provision of law which specifies the content of a policy, if the policy provides the policyholder and claimant with protection at least equal to that to which they are entitled under those other provisions.
(Added to NRS by 1981, 929)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.130 - Grounds for disapproval or withdrawal of previous approval.

The Commissioner shall disapprove any form filed under NRS 687B.120, or withdraw any previous approval thereof, only on one or more of the following grounds:
1. The form is in any respect in violation of or does not comply with this Code.
2. The form contains, or incorporates by reference where such incorporation is otherwise permissible, any inconsistent, ambiguous or misleading clauses, or exceptions and conditions which deceptively affect the risk purported to be assumed in the general coverage of the contract, or any provision or provisions prejudicial to the interest of the insured or policyholder.
3. The form has any title, heading or other indication of its provisions which is misleading, or is printed in such size of type or manner of reproduction as to be difficult to read.
4. As to an individual health insurance policy, if the benefits provided therein are unreasonable in relation to the premium charged, or if it contains any unjust, unfair, inequitable or prejudicial provision or provisions.
5. As to a life insurance or individual health insurance policy, if it contains a provision or provisions such as to encourage misrepresentation.
(Added to NRS by 1971, 1717)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.140 - Standard provisions.

1. Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this Code pertaining to contracts of particular kinds of insurance. The Commissioner may waive the required use of a particular provision in a particular insurance policy form if:
(a) The Commissioner finds such provision unnecessary for or unrelated to the protection of the insured and inconsistent with the purposes of the policy; and
(b) The policy is otherwise approved by the Commissioner.
2. No policy shall contain any provision inconsistent with or contradictory to any standard or uniform provision used or required to be used, but the Commissioner may approve any substitute provision which is, in the opinion of the Commissioner, not less favorable in any particular to the insured, owner or beneficiary than the provisions otherwise required.
3. In lieu of the provisions required by this Code for contracts for particular kinds of insurance, substantially similar provisions required by the law of the domicile of a foreign or alien insurer may be used when approved by the Commissioner.
4. A policy issued by a domestic insurer for delivery in another jurisdiction may contain any provision required or permitted by the laws of such jurisdiction.
(Added to NRS by 1971, 1718)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.147 - Exclusion, reduction or limitation of certain coverage in motor vehicle insurance policies allowed; conditions; form and contents of disclosure.

A policy of motor vehicle insurance covering a private passenger car may be delivered or issued for delivery in this state if it contains an exclusion, reduction or other limitation of coverage for the liability of any named insured for bodily injury to:
1. Another named insured; or
2. Any member of the household of a named insured,
unless the named insured rejects the exclusion, reduction or other limitation of coverage after full disclosure of the limitation by the insurer on a form approved by the Commissioner. The form must be written in a manner which is easily understood, printed in at least 12-point type and contain the statement "I understand that this policy excludes, reduces and limits coverage for bodily injury to members of my family and other named insureds, including the following persons:" (followed by a list of the names of the family members and other named insureds whose coverage has been excluded, reduced or limited). The list of names must be handwritten by the insured and followed by the full signature of the insured. The disclosed exclusion, reduction or other limitation of coverage continues until the named insured notifies the insurer in writing of the desire of the insured to reject it. The insurer must disclose upon renewal of the policy that coverage has been excluded, reduced or limited and that the named insured has the right to reject the exclusion, reduction or limitation. The insurer must also disclose to the named insured upon renewal any additional motor vehicle coverages that the insurer sells. These disclosures must be written in a form easily understood and printed in at least 12-point type.
(Added to NRS by 1989, 1851)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.150 - Requirement for making any portion of charter, bylaws or certain other documents of insurer part of contract.

1. No policy shall contain any provision purporting to make any portion of the charter, bylaws or other constituent document of the insurer (other than the subscriber’s agreement or power of attorney of a reciprocal insurer) a part of the contract unless such portion is set forth in full in the policy.
2. Any policy provision in violation of this section is invalid.
(Added to NRS by 1971, 1718)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.160 - Execution of policies.

1. Every insurance policy must be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee or representative duly authorized by the insurer.
2. Any such executing individual may use, in lieu of an original signature:
(a) A facsimile signature; or
(b) An electronic signature pursuant to the provisions of chapter 719 of NRS.
3. An insurance contract issued before, on or after January 1, 1972, which is otherwise valid is not rendered invalid by reason of the apparent execution thereof on behalf of the insurer by the imprinted facsimile signature of an individual not authorized so to execute as of the date of the policy.
(Added to NRS by 1971, 1718; A 1997, 1625; 2003, 2806)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.170 - Underwriters’ and combination policies.

1. Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters’ policy bearing their names. Any one insurer may issue policies in the name of an underwriter’s department and such policy shall plainly show the true name of the insurer.
2. Two or more insurers may, with the approval of the Commissioner, issue a combination policy which shall contain provisions substantially as follows:
(a) That the insurers executing the policy shall be severally liable for the full amount of any loss or damage, according to the terms of the policy, or for specified percentages or amounts thereof, aggregating the full amount of insurance under the policy; and
(b) That service of process, or of any notice or proof of loss required by such policy, upon any of the insurers executing the policy, shall constitute service upon all such insurers.
3. This section does not apply to cosurety obligations.
(Added to NRS by 1971, 1719)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.180 - Validity and construction of noncomplying forms.

1. A policy delivered or issued for delivery after January 1, 1972, to any person in this state in violation of this Code but otherwise binding on the insurer, shall be held valid, but shall be construed as provided in this Code.
2. Any condition, omission or provision not in compliance with the requirements of this Code and contained in any policy, rider or endorsement issued after January 1, 1972, and otherwise valid shall not thereby be rendered invalid but shall be construed and applied in accordance with such condition, omission or provision as would have applied had the same been in full compliance with this Code.
(Added to NRS by 1971, 1719)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.182 - Binders: Issuance; period of effectiveness.

1. A binder may be issued only by a resident or nonresident agent appointed by the insurer which is to issue the policy.
2. Except as provided in subsection 3, a binder must not be effective for more than 90 days.
3. The effective period of a binder may be extended 30 days at a time with the written approval of the Commissioner.
(Added to NRS by 1983, 1120)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.183 - Binders: Forms; required statement related to certain policies; delivery of copies.

1. All written binders must be made on forms approved by the Commissioner.
2. A binder related to a policy of insurance which provides coverage of less than $1,000,000 must contain a statement printed in at least 10-point bold type that any person who refuses to accept the binder as proof of insurance pursuant to the provisions of NRS 687B.186 is subject to the penalties provided in that section.
3. If a binder is in writing, one copy must be delivered either in person or by mailing first class to:
(a) The insured; and
(b) The insurer providing coverage under the binder,
within 24 hours after the binder becomes effective.
(Added to NRS by 1983, 1120; A 1985, 1161)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.184 - Binders: Limits of coverage, effective date and premium for policy issued as replacement.

1. A policy which is issued to replace a binder must include:
(a) Limits of coverage which are equal to the limits stated in the binder; and
(b) An effective date for the policy which is the same as the effective date of the initial binder.
2. The premium for such a policy must include the charge for the period covered by the binder and that charge must be in accordance with rates filed with the Commissioner pursuant to chapter 686B of NRS.
(Added to NRS by 1983, 1120)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.186 - Binders: Proof of insurance coverage; penalties for refusal to accept; exception.

1. A binder which is issued in accordance with NRS 687B.182 to 687B.187, inclusive, shall be deemed a policy for the purpose of proving that a person has insurance coverage.
2. Any party to a contract or other agreement who refuses to accept such a binder as proof of insurance when that proof is required by that contract or agreement:
(a) Shall be fined not more than $500.
(b) Is liable to the party presenting the binder as proof of insurance for actual damages sustained therefrom.
3. The provisions of this section do not apply to a binder related to a policy of insurance which provides coverage of at least $1,000,000.
(Added to NRS by 1983, 1121; A 1985, 1161)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.187 - Binders: Disapproval of insurer.

NRS 687B.182 to 687B.187, inclusive, do not prevent the exercise of a right to disapprove of the insurer or its representative on the basis of:
1. The adequacy and terms of the coverage with respect to the interest of the vendor, lender, lessor or other person providing a service to the insured;
2. The financial standards to be met by the insurer; or
3. The ability of the insurer or its representative to service the policy.
(Added to NRS by 1983, 1120)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.190 - Delivery of policy covering motor vehicle: Vendor, mortgagee or pledgee required to deliver duplicate to vendee, mortgagor or pledgor; stamped statement regarding certain lack of coverage; exception.

1. If the original policy is delivered or is so required to be delivered to or for deposit with any vendor, mortgagee or pledgee of any motor vehicle, in which policy any interest of the vendee, mortgagor or pledgor in or with reference to such vehicle is insured, a duplicate of such policy setting forth the name and address of the insurer, insurance classification of vehicle, type of coverage, limits of liability, premiums for the respective coverages and duration of the policy, or memorandum thereof containing the same such information, shall be delivered by the vendor, mortgagee or pledgee to each such vendee, mortgagor or pledgor named in the policy or coming within the group of persons designated in the policy to be so included. If the policy does not provide coverage of legal liability for injury to persons or damage to the property of third parties, a statement of such fact shall be printed, written or stamped conspicuously on the face of such duplicate policy or memorandum.
2. This section does not apply to inland marine floater policies.
(Added to NRS by 1971, 1719)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.200 - Assignability: Life or health insurance policy.

1. The purpose of this section is to confirm and clarify the right to provide for an assignment by which a person covered by a life or health insurance policy may divest himself or herself of all incidents of ownership provided by the policy, including the conversion privileges of the policy.
2. Any person insured under a life or health insurance policy may make an assignment of all or any part of the incidents of ownership of the person under the policy, including, but not limited to, the privilege to have issued to the person an individual policy of life or health insurance pursuant to the provisions of this Code and the right to name a beneficiary. Subject to the terms of the policy or agreement between the insured, the policyholder and the insurer relating to assignment of incidents of ownership thereunder, such an assignment by an insured, whenever made, is valid for the purpose of vesting in the assignee all of the incidents of ownership so assigned. Such an assignment does not prejudice the insurer on account of any payment it may make or individual policy it may issue prior to receipt of notice of the assignment.
3. This section also applies to contracts issued by organizations for dental care and nonprofit hospital, medical and dental service corporations.
(Added to NRS by 1971, 1720; A 1983, 2029)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.210 - Payment under life or health insurance policy or annuity contract discharges insurer from claims under policy or contract; exception.

1. Whenever the proceeds of or payments under a life or health insurance policy or annuity contract issued before, on or after January 1, 1972, become payable in accordance with the terms of the policy or contract, or the exercise of any right or privilege thereunder, and the insurer makes payment thereof in accordance therewith or in accordance with any written assignment thereof, the person then designated as being entitled thereto is entitled to receive the proceeds or payments and to give full acquittance therefor, and the payments fully discharge the insurer from all claims under the policy or contract unless, before payment is made, the insurer has received at its home office written notice by or on behalf of some other person that the other person claims to be entitled to the payment or some interest in the policy or contract.
2. This section also applies to contracts issued by organizations for dental care and nonprofit hospital, medical and dental service corporations.
(Added to NRS by 1971, 1720; A 1983, 2029; 1997, 1625)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.220 - Forms for proof of loss required to be furnished by insurer to insured claimant.

Upon receiving due notice of a claim of loss under an insurance contract issued or assumed by it, an insurer shall promptly furnish to the insured claimant such forms of proof of loss as it may require, for completion by such person, but such insurer shall not, by reason of the requirement so to furnish forms, have any responsibility for or with reference to the completion of such proof or the manner of any such completion or attempted completion.
(Added to NRS by 1971, 1720)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.225 - Requirements for contracts for payment of cost of medical or dental care which require prior authorization of care.

1. Except as otherwise provided in NRS 689A.0405, 689A.0412, 689A.0413, 689A.0418, 689A.0437, 689A.044, 689A.0445, 689A.0459, 689B.031, 689B.0312, 689B.0313, 689B.0315, 689B.0317, 689B.0319, 689B.0374, 689B.0378, 689C.1665, 689C.1671, 689C.1675, 689C.1676, 695A.1843, 695A.1856, 695A.1865, 695A.1874, 695B.1912, 695B.1913, 695B.1914, 695B.1919, 695B.19197, 695B.1924, 695B.1925, 695B.1942, 695C.1696, 695C.1699, 695C.1713, 695C.1735, 695C.1737, 695C.1743, 695C.1745, 695C.1751, 695G.170, 695G.1705, 695G.171, 695G.1714, 695G.1715, 695G.1719 and 695G.177, any contract for group, blanket or individual health insurance or any contract by a nonprofit hospital, medical or dental service corporation or organization for dental care which provides for payment of a certain part of medical or dental care may require the insured or member to obtain prior authorization for that care from the insurer or organization. The insurer or organization shall:
(a) File its procedure for obtaining approval of care pursuant to this section for approval by the Commissioner; and
(b) Unless a shorter time period is prescribed by a specific statute, including, without limitation, NRS 689A.0446, 689B.0361, 689C.1688, 695A.1859, 695B.19087, 695C.16932 and 695G.1703, respond to any request for approval by the insured or member pursuant to this section within 20 days after it receives the request.
2. The procedure for prior authorization may not discriminate among persons licensed to provide the covered care.
(Added to NRS by 1983, 2028; A 1985, 2098; 1997, 307, 1729; 1999, 1943; 2007, 3236; 2021, 2577; 2023, 2111, 2211, 3508)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.240 - Administration of claims not waiver.

Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder:
1. Acknowledgment of the receipt of notice of loss or claim under the policy.
2. Furnishing forms for reporting a loss or claim, for giving information relative thereto, or for making proof of loss, or receiving or acknowledging receipt of any such forms or proofs completed or uncompleted.
3. Investigating any loss or claim under any policy or engaging in negotiations looking toward a possible settlement of any such loss or claim.
(Added to NRS by 1971, 1721)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.250 - Payment not to constitute admission of liability or waiver of defenses.

1. No payment or payments made by any person, or by an insurer of the person by virtue of a liability insurance policy, on account of bodily injury or death or damage to or loss of property of another shall constitute an admission of liability or waiver of defenses as to such injury, death, loss or damage, or be admissible in evidence in any action brought against the insured person or the insurer of the person for damages, indemnity or benefits arising out of such injury, death, loss or damage, unless pleaded as a defense to the action.
2. All such payments shall be credited upon any settlement made by, or judgment rendered in such an action against, the payer or the insurer of the payer, and in favor of any person to whom or on whose account payment was made.
(Added to NRS by 1971, 1721)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.255 - Insurer required to pay claim with negotiable instrument.

If an insurer is required to pay a claim, the insurer shall pay that claim with an instrument which is immediately negotiable. An insurer shall be deemed to have complied with the provisions of this section if the insurer enters into an agreement, with a bank located in this state, which provides that the bank will accept the insurer’s drafts in as timely a manner as it accepts the insurer’s checks.
(Added to NRS by 1989, 1799)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.260 - Exemption of proceeds of certain policies.

1. If a policy of insurance, whether issued before, on or after January 1, 1972, is effected by any person on his or her own life, or on another life, in favor of a person other than himself or herself, or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to any such person, the lawful beneficiary or assignee thereof, other than the insured or the person so effecting such insurance or executors or administrators of the insured or the person so effecting such insurance, is entitled to its proceeds and avails against the creditors and representatives of the insured and of the person effecting the same, whether or not the right to change the beneficiary is reserved or permitted and whether or not the policy is made payable to the person whose life is insured or to the executors or administrators of such person if the beneficiary or assignee predeceases the person. Except as otherwise provided in this subsection, such proceeds and avails are exempt from all liability for any debt of the beneficiary existing at the time the proceeds and avails are made available for the use of the beneficiary. Subject to the statute of limitations, the amount of any premiums for such insurance paid with intent to defraud creditors, with interest thereon, inures to the benefit of the creditors from the proceeds of the policy. The insurer issuing the policy is discharged of all liability thereon by payment of its proceeds in accordance with its terms, unless, before the payment, the insurer has received written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specification of the amount claimed along with such facts as will assist the insurer to ascertain the particular policy.
2. For the purposes of subsection 1, a policy shall also be deemed to be payable to a person other than the insured if and to the extent that a facility-of-payment clause or a similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to a person as permitted by such a clause.
3. This section does not apply to insurance issued pursuant to this Code to a creditor covering his or her debtors to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.
(Added to NRS by 1971, 1722; A 1997, 1625)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.270 - Exemption of proceeds: Health insurance.

1. Except as otherwise expressly provided by the policy or contract, the proceeds and avails of all contracts of health insurance and of provisions providing benefits on account of the disability of the insured which are supplemental to life insurance or annuity contracts effected before, on or after January 1, 1972, are exempt from all liability for any debt of the insured, and from any debt of the beneficiary existing at the time the proceeds are made available for the use of the beneficiary.
2. This section does not apply to insurance issued pursuant to this Code to a creditor covering his or her debtors to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.
(Added to NRS by 1971, 1722; A 1997, 1626)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.280 - Exemption of proceeds: Group insurance.

1. A policy of group life insurance or group health insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of such insured individual or his or her beneficiary or of any other person having a right under the policy. The proceeds thereof, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of the debts of the individual insured.
2. This section does not apply to group insurance issued pursuant to this Code to a creditor covering his or her debtors, to the extent that such proceeds are applied to payments of the obligation for the purpose of which the insurance was so issued.
(Added to NRS by 1971, 1723)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.290 - Exemption of proceeds: Annuities; assignability of rights.

1. The benefits, rights, privileges and options which under any annuity contract issued prior to or after January 1, 1972, are due or prospectively due the annuitant shall not be subject to execution nor shall the annuitant be compelled to exercise any such rights, powers or options, nor shall creditors be allowed to interfere with or terminate the contract, except as to amounts paid for or as premium on any such annuity with intent to defraud creditors, with interest thereon, and of which the creditor has given the insurer written notice at its home office prior to the making of the payment to the annuitant out of which the creditor seeks to recover. Any such notice shall specify the amount claimed or such facts as will enable the insurer to ascertain such amount, and shall set forth such facts as will enable the insurer to ascertain the annuity contract, the annuitant and the payment sought to be avoided on the ground of fraud.
2. If the contract so provides, the benefits, rights, privileges or options accruing under such contract to a beneficiary or assignee shall not be transferable or subject to commutation, and the same exemptions and exceptions contained in this section for the annuitant shall apply with respect to such beneficiary or assignee.
(Added to NRS by 1971, 1723; A 2011, 3571)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.300 - Retention of proceeds of policy by insurer.

1. Any life insurer shall have power to hold payment of proceeds, as has been agreed to in writing by the insurer and the insured or beneficiary. The insurer shall not be required to segregate funds so held but may hold them as a part of its general corporate assets.
2. The provisions of this section shall not impair or affect any rights of creditors under NRS 687B.260 or 687B.290.
(Added to NRS by 1971, 1724)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.310 - Cancellations and nonrenewals; scope of application.

1. NRS 687B.310 to 687B.420, inclusive, apply to all binders and all contracts of insurance the general terms of which are required to be approved or are subject to disapproval by the Commissioner, except as otherwise provided by statute or by rule pursuant to subsection 3.
2. The contract may provide terms more favorable to policyholders than are required by NRS 687B.310 to 687B.420, inclusive.
3. The Commissioner may by rule exempt from NRS 687B.310 to 687B.420, inclusive, classes of insurance contracts where the policyholders do not need protection against arbitrary termination.
4. The rights provided by NRS 687B.310 to 687B.420, inclusive, are in addition to and do not prejudice any other rights the policyholder may have at common law or under other statutes.
5. NRS 687B.310 to 687B.420, inclusive, do not prevent the rescission or reformation of any life or health insurance contract not otherwise denied by the terms of the contract or by any other statute.
6. Any notice to an insured required pursuant to NRS 687B.320 to 687B.350, inclusive, must be personally delivered to the insured or mailed first class or certified to the insured at the address of the insured last known by the insurer. The notice must state the effective date of the cancellation or nonrenewal and be accompanied by a written explanation of the specific reasons for the cancellation or nonrenewal.
(Added to NRS by 1971, 1724; A 1971, 1949; 1983, 1121; 1987, 985, 1063; 1993, 2399; 2003, 3313)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.320 - Policies other than industrial insurance policies: Grounds for midterm cancellation; notice to policyholder.

1. Except as otherwise provided in subsection 3, no insurance policy that has been in effect for at least 70 days or that has been renewed may be cancelled by the insurer before the expiration of the agreed term or 1 year from the effective date of the policy or renewal, whichever occurs first, except on any one of the following grounds:
(a) Failure to pay a premium when due;
(b) Conviction of the insured of a crime arising out of acts increasing the hazard insured against;
(c) Discovery of fraud or material misrepresentation in the obtaining of the policy or in the presentation of a claim thereunder;
(d) Discovery of:
(1) An act or omission; or
(2) A violation of any condition of the policy,
which occurred after the first effective date of the current policy and substantially and materially increases the hazard insured against;
(e) A material change in the nature or extent of the risk, occurring after the first effective date of the current policy, which causes the risk of loss to be substantially and materially increased beyond that contemplated at the time the policy was issued or last renewed;
(f) A determination by the Commissioner that continuation of the insurer’s present volume of premiums would jeopardize the insurer’s solvency or be hazardous to the interests of policyholders of the insurer, its creditors or the public; or
(g) A determination by the Commissioner that the continuation of the policy would violate, or place the insurer in violation of, any provision of the Code.
2. No cancellation under subsection 1 is effective until, in the case of paragraph (a) of subsection 1, at least 10 days and, in the case of any other paragraph of subsection 1, at least 30 days after the notice is delivered or mailed to the policyholder.
3. The provisions of this section do not apply to a policy of industrial insurance.
(Added to NRS by 1971, 1724; A 1987, 986; 2003, 3313)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.330 - Anniversary cancellation.

A policy issued for a term longer than 1 year may be cancelled by the insurer by giving notice of the cancellation:
1. For commercial or business policies, 60 days before any anniversary date of the policy.
2. For all other policies, 30 days before any anniversary date of the policy.
(Added to NRS by 1971, 1725; A 1987, 987)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.340 - Nonrenewals.

1. Subject to subsection 2, a policyholder has a right to have his or her policy renewed, on the terms then being applied by the insurer to persons, similarly situated, for an additional period equivalent to the expiring term if the agreed term is 1 year or less, or for 1 year if the agreed term is longer than 1 year, unless:
(a) At least 60 days for commercial or business policies; and
(b) At least 30 days for all other policies,
before the date of expiration provided in the policy the insurer mails or delivers to the policyholder a notice of intention not to renew the policy beyond the agreed expiration date. If an insurer fails to provide a timely notice of nonrenewal, the insurer shall provide the insured with a policy of insurance on the identical terms as in the expiring policy.
2. This section does not apply if the policyholder has accepted replacement coverage or has requested or agreed to nonrenewal, or if the policy is expressly designated as nonrenewable by a clause approved or deemed to be approved by the Commissioner.
(Added to NRS by 1971, 1725; A 1971, 1950; 1987, 987)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.345 - Annual review of coverage and benefits provided in policy.

Each insurer who delivers a policy in this state which is effective for 1 year or more may, for the period in which the policy is effective, review annually with the policyholder to whom the policy is delivered the coverage and benefits provided in the policy.
(Added to NRS by 1995, 1747)