NRS 681B.420 – Exceptions to confidentiality; applicability.
1. Notwithstanding any provisions of NRS 681B.410 to the contrary, any confidential information specified in subsections 1 and 5 of NRS 681B.410: (a) May be subject to subpoena for the purpose of defending an action seeking damages from the appointed actuary submitting the related memorandum in support of an opinion submitted in accordance with the […]
NRS 681B.500 – Data required to be submitted; applicability.
1. An applicable company shall submit to the Commissioner, to an appropriately appointed experience reporting agent or to such other person authorized to act on behalf of the Commissioner pursuant to NRS 681B.510, and as specified in the Valuation Manual, mortality, morbidity, policyholder behavior or expense experience and other data as prescribed in the Valuation […]
NRS 681B.510 – Commissioner authorized to designate agent to assist in compilation of required data; applicability.
1. The Commissioner may designate a person to act as the experience reporting agent of the Commissioner and to assist the Commissioner in compiling relevant mortality, morbidity, policyholder behavior or expense experience and other data pursuant to NRS 681B.500 and as prescribed in the Valuation Manual. 2. Except as otherwise provided in NRS 681B.310, the […]
NRS 681B.540 – Insurers required to report material acquisition or disposition of assets; regulations; confidentiality.
Each insurer shall report to the Commissioner every material acquisition or disposition of assets within 15 days after the end of the month in which the transaction occurs. The Commissioner shall define by regulation what transactions are material, prescribe what information must be reported and specify any person to whom a copy must be sent. […]
NRS 681B.550 – Insurer required to report its level of risk-based capital; regulations; exemptions.
1. Except as otherwise provided in subsection 3, on or before March 1 of each year, each domestic insurer, and each foreign insurer domiciled in a state which does not have requirements for reporting risk-based capital, that transacts property, casualty, life or health insurance in this state shall prepare and submit to the Commissioner, and […]
NRS 681B.300 – Valuation Manual: Applicability; operative date; notice by Commissioner of operative date; effective date of changes; required content; authority of Commissioner to adopt provisions by regulation to replace missing or noncompliant content; authority of Commissioner to engage actuary; authority of Commissioner to enforce compliance; applicability.
1. For policies issued on or after the operative date of the Valuation Manual, the standard prescribed in the Valuation Manual is the minimum standard of valuation required under NRS 681B.330, except as otherwise provided in subsection 6 or 8. 2. The operative date of the Valuation Manual is January 1 of the first calendar […]
NRS 681B.310 – Commissioner authorized to exempt certain policies and contracts from provisions of Valuation Manual; alternate applicable provisions; applicability.
1. The Commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in this State from the requirements of NRS 681B.300, if: (a) The Commissioner has issued to the company a written exemption and has not subsequently revoked that written exemption; and (b) The company […]
NRS 681B.320 – Accident and health insurance policies: Minimum standard of valuation; applicability.
1. For accident and health insurance policies and contracts issued on or after the operative date of the Valuation Manual, the standard prescribed in the Valuation Manual is the minimum standard of valuation required under NRS 681B.330. 2. Except as otherwise provided in NRS 681B.310, the provisions of this section apply only to, or in […]
NRS 681B.330 – Valuation and calculation of reserves; acceptance of valuation by another state or jurisdiction; applicability.
1. For policies and contracts issued on or after the operative date of the Valuation Manual: (a) The Commissioner shall annually value, or cause to be valued, the reserve liabilities (hereinafter called reserves) for all outstanding life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts of every applicable company […]
NRS 681B.350 – Opinion of actuary: Requirements; applicability.
1. For actuarial opinions of reserves prepared after the operative date of the Valuation Manual: (a) Every company with outstanding life insurance contracts, accident and health insurance contracts or deposit-type contracts in this State and subject to regulation by the Commissioner shall annually submit the opinion of the appointed actuary as to whether the reserves […]