Nevada Administrative Code
Chapter 687B - Contracts of Insurance
CONTRACTS FOR LONG-TERM CARE
Section 687B.045 - Modification or suspension of provisions
Universal Citation: NV Admin Code 687B.045
Current through December 31, 2024
The Commissioner may, upon receiving a written request therefor and after an administrative hearing, issue an order to modify or suspend any provision of NAC 687B.005 to 687B.140, inclusive, with respect to a specific long-term care insurance contract or certificate upon a written finding that:
1. The modification or suspension would be in the best interest of the insureds;
2. The purposes to be achieved would not be effectively or efficiently achieved without the modification or suspension; and
3. One of the following:
(a) The modification or suspension is necessary to the development of an innovative and reasonable approach for insuring long-term care;
(b) The long-term care insurance contract or certificate is to be issued to residents of a life care or continuing care retirement community or some other residential community for the elderly, and the modification or suspension is reasonably related to the special needs or nature of that community; or
(c) The modification or suspension is necessary to permit long-term care insurance to be sold as part of, or in conjunction with, another policy of insurance.
Added to NAC by Comm'r of Insurance, eff. 11-21-88; A 1-4-91; R028-10, 12-16-2010, eff. 10-1-2011
NRS 679B.130
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