This chapter applies to all insurance contracts and annuity contracts other than: 1. Reinsurance. 2. Policies or contracts not issued for delivery in this state nor delivered in this state. 3. Wet marine and transportation insurance. (Added to NRS by 1971, 1712)
As used in this chapter, unless the context otherwise requires, “binder” means an oral or written contract for temporary insurance which is used when a policy is not immediately issued to evidence that the coverage attaches at a specified time and continues until the policy is issued or the risk is declined. (Added to NRS […]
Unless otherwise provided by a specific statute, if a signature is required of any person, the person may provide as the signature of the person: 1. An original signature; 2. A facsimile signature; or 3. An electronic signature pursuant to the provisions of chapter 719 of NRS. (Added to NRS by 2003, 2806)
With respect to any kind of insurance and any type of insurance contract, the insurer may provide for waiver of payment of premium for such causes and subject to such terms and conditions as may be specified in the contract. (Added to NRS by 1971, 1712; A 1981, 1142)
1. Any natural person of competent legal capacity may procure or effect an insurance contract upon his or her own life or body for the benefit of any person. But a person shall not procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under […]
1. Life insurance contracts may be entered into in which the person paying the consideration for the insurance has no insurable interest in the life of the individual insured, where charitable, benevolent, educational or religious institutions or their agencies are designated irrevocably as the beneficiaries thereof. 2. In making such contracts the person paying the […]
1. No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss. 2. “Insurable interest” as used in this section means any […]
1. Any person of competent legal capacity may contract for insurance. 2. Any minor not less than 16 years of age may, notwithstanding his or her minority, contract for or own annuities or insurance, or affirm by novation or otherwise preexisting contracts for annuities or insurance, upon his or her own life, body, health, property, […]
1. Except as otherwise provided in subsection 2, no life or health insurance contract upon a person, except a contract of group life insurance or of group or blanket health insurance, may be made or effectuated unless at the time of the making of the contract the person insured, being of competent legal capacity to […]
No alteration of any written application for any life or health insurance policy shall be made by any person other than the applicant without the written consent of the applicant, except that insertions may be made by the insurer, for administrative purposes only, in such manner as to indicate clearly that such insertions are not […]
1. No application for the issuance of any life or health insurance policy or annuity contract shall be admissible in evidence in any action relative to such policy or contract, unless a true copy of the application was attached to or otherwise made a part of the policy or contract when issued. This subsection does […]
All statements and descriptions in any application for an insurance policy or annuity contract, by or in behalf of the insured or annuitant, shall be deemed to be representations and not warranties. Misrepresentations, omissions, concealment of facts and incorrect statements shall not prevent a recovery under the policy or contract unless either: 1. Fraudulent; 2. […]
An insurer shall include provisions in a policy of health insurance encouraging the insured’s use, if medically appropriate, of services and facilities that are the most efficient or that tend to control or reduce the cost of health care. Any policy or other form filed with the Commissioner pursuant to NRS 687B.120 must specifically indicate […]
The Commissioner shall not approve any proposed policy of health insurance unless the Commissioner determines that the insurer has adopted and is using three or more practices in administering benefits that control or reduce the cost of health care. (Added to NRS by 1985, 1227)
1. Except as otherwise provided in subsection 2: (a) No life or health insurance policy or contract, annuity contract form, policy form, health care plan or plan for dental care, whether individual, group or blanket, including those to be issued by a health maintenance organization, organization for dental care or prepaid limited health service organization, […]
1. The provisions of NRS 687B.122 to 687B.128, inclusive: (a) Apply to all policies, certificates or contracts of life or health insurance, including credit insurance as defined in NRS 690A.015, delivered or issued for delivery in this state, including policies, certificates or contracts issued by fraternal benefit societies and hospital, medical or dental service corporations, […]
1. Except as provided by NRS 687B.122, a policy must not be delivered or issued for delivery in this state on or after July 1, 1983, unless: (a) The text of the policy achieves a score of at least 40 on the Flesch test of reading ease or an equivalent score on any comparable test […]
1. An insurer shall file a copy of the policy with the Commissioner accompanied by a certificate signed by an officer of the insurer stating that the policy meets the score required for reading ease or stating that the score is lower than the minimum required and requesting that it be approved in accordance with […]
A policy which complies with subsection 1 of NRS 687B.124 must be approved by the Commissioner, notwithstanding any other provision of law which specifies the content of a policy, if the policy provides the policyholder and claimant with protection at least equal to that to which they are entitled under those other provisions. (Added to […]
The Commissioner shall disapprove any form filed under NRS 687B.120, or withdraw any previous approval thereof, only on one or more of the following grounds: 1. The form is in any respect in violation of or does not comply with this Code. 2. The form contains, or incorporates by reference where such incorporation is otherwise […]
