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 […]
NRS 681B.145 – Reserves for plan of life insurance; applicability.
1. For any plan of life insurance which provides for the determination of a future premium, the amounts of which are to be determined by the insurer based on estimates of future experience, or for any plan of life insurance or annuity which is of such a nature that the minimum reserves cannot be determined […]
NRS 681B.150 – Minimum reserve; applicability.
1. If in any contract year the gross premium charged by any life insurer on any policy or contract issued on or after January 1, 1972, is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve thereon but using the minimum valuation standards of […]
NRS 681B.155 – Regulations regarding standards for valuation for health insurance contracts; applicability.
1. For health insurance contracts of any kind issued on or after January 1, 1972, and before the operative date of the Valuation Manual, by health insurers, corporations for hospital, medical and dental service, health maintenance organizations and plans for dental care, the minimum standard of valuation is the standard adopted by the Commissioner by […]
NRS 681B.200 – “Qualified actuary” defined.
1. As used in NRS 681B.200 to 681B.260, inclusive, “qualified actuary” means a natural person who is qualified to sign the applicable statement of actuarial opinion in accordance with the qualification standards set by the American Academy of Actuaries for an actuary signing such a statement. 2. Except as otherwise provided in NRS 681B.310, the […]
NRS 681B.210 – Insurer required to submit annual opinion as to computation of reserves and related actuarial items; regulations; applicability.
1. Every insurer doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the Commissioner by regulation are computed appropriately, are based on assumptions which satisfy contractual provisions, are consistent with prior […]