NRS 681B.100 – Contingency reserves for insurance of repayment of debt secured by mortgage.
1. Casualty or surety insurers insuring real property mortgage lenders against loss by reason of nonpayment of the mortgage indebtedness by the borrower shall maintain a contingency reserve for the protection of policyholders against the effects of adverse economic cycles. 2. The insurer shall contribute to such contingency reserve 50 percent of net premiums (gross […]
NRS 681B.050 – Reserves for losses from casualty insurance; regulations.
1. As to casualty insurance transacted by it, each insurer shall maintain at all times reserves in an amount estimated in the aggregate to provide for payment of all losses and claims incurred, whether reported or unreported, which are unpaid and for which the insurer may be liable and to provide for the expenses of […]
NRS 681B.060 – Reserve for unearned premiums; exception.
1. As to property, casualty and surety insurance the insurer shall maintain as a liability an unearned premium reserve on all policies in force. 2. Except as provided in NRS 681B.070 as to marine and transportation risks, the unearned premium reserve shall be equal to the unearned portion of gross premiums in force (after deduction […]
NRS 681B.070 – Reserve for unearned premiums for marine and transportation insurance.
As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the Commissioner may require the insurer to carry a reserve equal to 100 percent of premiums on trip risks written during the month ended as of the date of statement. (Added to NRS by […]
NRS 681B.080 – Reserves for policies of health insurance.
For all health insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth in regulations issued by the Commissioner and, in no event, less in the aggregate than the pro […]