Nevada Administrative Code
Chapter 681A - Kinds of Insurance; Reinsurance
GENERAL PROVISIONS
Section 681A.008 - "Liabilities" defined
Universal Citation: NV Admin Code 681A.008
Current through September 16, 2024
"Liabilities" means the gross liabilities of an assuming insurer which are attributable to reinsurance ceded by insurers domiciled in the United States and which are not otherwise secured by acceptable means and includes, without limitation:
1. For business ceded by a domestic insurer authorized to write accident and health insurance and property and casualty insurance:
(a) Losses and allocated loss expenses paid
by the ceding insurer that are recoverable from the assuming insurer;
(b) Reserves for reported losses and
outstanding losses;
(c) Reserves
for losses incurred but not reported;
(d) Reserves for allocated loss expenses;
and
(e) Unearned
premiums.
2. For business ceded by a domestic insurer authorized to write life, health and annuity insurance:
(a) Aggregate reserves for
life policies and contracts less policy loans and net due and deferred
premiums;
(b) Aggregate reserves
for accident and health policies;
(c) Deposit funds and other liabilities
without life or disability contingencies; and
(d) Liabilities for policy and contract
claims.
Added to NAC by Comm'r of Insurance by R027-02, eff. 5-31-2002
NRS 679B.130, 681A.130
Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
