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.360 – Principle-based valuation: Requirements; applicability.
1. An applicable company using a principle-based valuation for one or more policies or contracts subject to this chapter, and as specified in the Valuation Manual, shall: (a) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the Valuation Manual. (b) Provide to the Commissioner, and the […]
NRS 681B.370 – Principle-based valuation: Required reserves; applicability.
1. An applicable company using a principle-based valuation must establish reserves that: (a) Quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that reflects conditions which include unfavorable events that have a reasonable probability of occurring during the lifetime of the contracts. For policies […]
NRS 681B.380 – Principle-based valuation: Prescribed formulaic reserve component allowed; applicability.
1. A principle-based valuation may include a prescribed formulaic reserve component. 2. Except as otherwise provided in NRS 681B.310, the provisions of this section apply only to, or in connection with, policies and contracts issued on or after the operative date of the Valuation Manual. (Added to NRS by 2015, 3397)
NRS 681B.400 – Confidential information.
1. The following types of information shall qualify as confidential information: (a) A memorandum in support of an opinion submitted pursuant to NRS 681B.200 to 681B.260, inclusive, or 681B.350 and any other documents, materials and other information, including, without limitation, all working papers, and copies thereof, created, produced or obtained by or disclosed to the […]
NRS 681B.410 – Confidentiality and privilege of information deemed to be confidential; applicability.
1. Except as otherwise provided in this section and NRS 239.0115, 681B.400 and 681B.420, an applicable company’s confidential information is confidential by law and privileged, and is not: (a) Subject to subpoena or other forms of civil discovery; or (b) Admissible in evidence in any private civil action. 2. Neither the Commissioner nor any person […]