NRS 691C.380 – Transfers to unauthorized insurer.
1. Except as otherwise provided in subsection 2, an authorized insurer issuing credit personal property insurance may not enter into any agreement whereby the authorized insurer transfers, by reinsurance or otherwise, to an unauthorized insurer, as they relate to credit personal property insurance written or issued in this State: (a) A substantial portion of the […]
NRS 691C.390 – Refund of unearned premiums upon cancellation; approval of refund formula.
1. Each individual policy or certificate of insurance must provide for a refund of unearned premiums if the credit personal property insurance is cancelled before the scheduled date of termination of the insurance. 2. Except as otherwise provided in this section, any refund must be provided to the person to whom it is entitled as […]
NRS 691C.400 – Claims.
1. All claims must be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate files on all reported claims. All claims must be settled as soon as practicable and in accordance with the terms of the insurance contract. 2. All claims must be paid by draft drawn upon […]
NRS 691C.410 – Settlement or adjustment of claims.
A plan or arrangement may not be used whereby a person other than the insurer or its designated claim representative is authorized to settle or adjust claims. The creditor may not be designated as the representative for the insurer in adjusting claims, except that a group policyholder may, by arrangement with the group insurer, draw […]
NRS 691C.420 – Denial of claim because debtor ineligible for coverage or misrepresented material fact; refund.
A claim made pursuant to credit personal property insurance must not be denied more than 60 days after the initiation of coverage because the debtor was ineligible for coverage unless the debtor misrepresented a material fact. If a claim is denied within 60 days after the initiation of coverage because the debtor was ineligible for […]
NRS 691C.430 – Regulations.
The Commissioner may adopt regulations to carry out the provisions of this chapter. (Added to NRS by 2005, 2113)
NRS 691C.440 – Administrative fines; revocation, suspension or limitation of license or certificate of authority.
In addition to any other penalty provided by law, a person who violates a provision of this chapter or a final order of or a regulation adopted by the Commissioner pursuant to this chapter, after notice and a hearing, upon order of the Commissioner is subject to: 1. The imposition of an administrative fine not […]
NRS 691C.370 – Report of credit personal property insurance by insurer: Filing; preparation.
Each year, not later than the date specified in the Instructions to the Annual Statement published by the National Association of Insurance Commissioners, an insurer doing business in this State shall file with the Commissioner and the National Association of Insurance Commissioners a report of credit personal property insurance written on the basis of a […]
NRS 691C.270 – Insurer prohibited from requiring bundling of other credit insurance coverage with purchase of credit personal property insurance or using gross debt to determine premiums.
1. An insurer shall not: (a) Require the bundling of other credit insurance coverage with the purchase of credit personal property insurance; and (b) Use gross debt in any manner to determine the premiums for credit personal property insurance. 2. A debtor must have a choice to purchase credit personal property insurance separately from other […]
NRS 691C.280 – Required disclosures.
1. Before a debtor elects to purchase credit personal property insurance in connection with a credit transaction, the following information must be disclosed to the debtor in writing: (a) That the purchase of credit personal property insurance from the creditor is not mandatory and is not a condition for obtaining credit approval; (b) If more […]