Nevada Administrative Code
Chapter 679B - Commissioner of Insurance
COLLECTION, USE AND DISCLOSURE OF INFORMATION ON TRANSACTIONS OF INSURANCE
Section 679B.565 - "Adverse underwriting decision" defined
Universal Citation: NV Admin Code 679B.565
Current through September 16, 2024
1. "Adverse underwriting decision" means any of the following actions involving insurance transactions with individually underwritten insurance coverage:
(a) A declination of insurance
coverage.
(b) A termination of
insurance coverage.
(c) Failure by
an agent to apply for insurance coverage with a specific insurance institution
which the agent represents and which was requested by an applicant.
(d) For property or casualty insurance
coverage:
(1) Placement by an insurance
institution or agent of an insured person with a residual market mechanism, an
unauthorized insurer as described in chapter 685B of NRS or an insurance
institution that specializes in substandard risks; or
(2) Charging a higher rate on the basis of
information which differs from information obtained from the applicant or
policyholder.
(e) An
offer to insure at higher than standard rates for life, health or disability
insurance coverage.
2. The following actions are not considered to be adverse underwriting decisions:
(a) The termination of an individual policy
form on a class or statewide basis.
(b) A declination of insurance coverage
solely because the coverage is not available on a class or statewide
basis.
(c) The rescission of a
policy.
Added to NAC by Comm'r of Insurance, 10-4-88, eff. 1-1-89
NRS 679B.130
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