Nevada Administrative Code
Chapter 681A - Kinds of Insurance; Reinsurance
CERTIFIED REINSURERS
Section 681A.490 - Recognition of qualified jurisdictions: Factors for consideration by Commissioner; update of published list
Current through February 27, 2024
1. To determine whether the domiciliary jurisdiction of an assuming insurer domiciled outside of the United States is eligible to be recognized as a qualified jurisdiction pursuant to subsection 2 of NRS NRS 681A.1553, the Commissioner will evaluate the following factors:
2. The Commissioner will not recognize as a qualified jurisdiction a jurisdiction which does not:
3. The Commissioner will recognize as a qualified jurisdiction a jurisdiction that meets the requirements for accreditation under the National Association of Insurance Commissioners' financial standards and accreditation program as a qualified jurisdiction and include each such jurisdiction on the list published pursuant to NRS 681A.1553.
4. The Commissioner will consider the list of qualified jurisdictions published by the National Association of Insurance Commissioners in determining whether a jurisdiction is a qualified jurisdiction. If the Commissioner determines that a jurisdiction which does not appear on such a list is a qualified jurisdiction, the Commissioner will document and make available the rationale for his or her decision, which must include, without limitation, a discussion of the factors described in subsection 1 as applied to the jurisdiction.
5. The Commissioner will regularly update the list of qualified jurisdictions published pursuant to NRS 681A.1553.
Added to NAC by Comm'r of Insurance by R079-16A, eff. 11/2/2016
NRS 679B.130, 681A.130, 681A.1553