Nevada Administrative Code
Chapter 693A - Corporate Powers and Procedures of Domestic Stock and Mutual Insurers
MANAGEMENT AND AGENCY CONTRACTS OF CONTROLLED INSURERS
Section 693A.750 - Required filing and reporting by controlled insurer

Universal Citation: NV Admin Code 693A.750

Current through December 12, 2024

1. In addition to any other required certification of reserves for losses, a controlled insurer shall, on April 1 of each year, file with the Commissioner an opinion of an independent actuary or other independent specialist on reserves for losses who is acceptable to the Commissioner, a report of loss ratios for each line of insurance written which attests to the adequacy of reserves established for losses incurred and outstanding as of December 31, preceding, including the losses incurred but not reported on insurance business placed with the controlled insurer by his or her controlling producer.

2. The controlled insurer shall report annually to the Commissioner the amount of commissions paid to the controlling producer, the percentage which the amount represents of the net premiums written, and comparable amounts and percentages paid to noncontrolling producers for placements of the same kinds of insurance.

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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