Nevada Administrative Code
Chapter 693A - Corporate Powers and Procedures of Domestic Stock and Mutual Insurers
MANAGEMENT AND AGENCY CONTRACTS OF CONTROLLED INSURERS
Section 693A.730 - Reinsurance by controlled insurer; contents of guidelines for underwriting

Universal Citation: NV Admin Code 693A.730
Current through December 12, 2024

Except as otherwise provided in this section, a controlling producer may negotiate for but shall not require a controlled insurer to reinsure business that the controlling producer places with the controlled insurer. The controlling producer may require the controlled insurer to enter into contracts for facultative reinsurance pursuant to obligatory facultative agreements if the written contract between the controlling producer and the controlled insurer contains guidelines for underwriting. If the reinsurance has been ceded and assumed, the guidelines for underwriting must include a list of reinsurers with whom obligatory facultative agreements are in effect, the coverages and amounts or percentages that may be reinsured and a schedule of commissions.

Added to NAC by Comm'r of Insurance, eff. 6-28-96; A by R094-14, eff. 12/21/2015

NRS 679B.130, 693A.110

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