Nevada Administrative Code
Chapter 688A - Life Insurance and Annuity Contracts
MULTIPLE POLICIES OF LIFE INSURANCE
Section 688A.250 - Written standards for processing claims; records substantiating compliance
Universal Citation: NV Admin Code 688A.250
Current through September 16, 2024
1. Each insurer issuing a policy of life insurance shall adopt a written standard for processing a claim for a benefit under a policy of life insurance that provides for the search of all policies issued by the insurer for other policies covering the life of the same person.
2. The written standard must provide that the insurer shall:
(a) Ask the person submitting a
claim for a benefit under a policy of life insurance for any other names by
which the person covered under the policy was known; and
(b) Search all policies issued by the insurer
to determine whether the insured was covered under a policy issued by the
insurer under another name.
3. The insurer shall maintain records substantiating compliance with the standard for processing a claim for a benefit under a policy of life insurance adopted pursuant to subsection 1.
Added to NAC by Comm'r of Insurance by R177-03, eff. 12-16-2003
NRS 679B.130, 679B.137
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.
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