Nevada Administrative Code
NAC-485 - Motor Vehicles: Insurance and Financial Responsibility
CERTIFICATE OF SELF-INSURANCE
485.110 - Annual submission of certain information; settlement of claims.

Universal Citation: NV Admin Code 485.110

NAC 485.110 Annual submission of certain information; settlement of claims. (NRS 485.130, 485.380)

1. Each self-insurer shall annually submit to the Department:

(a) An affidavit from a certified public accountant licensed in this State attesting that the financial statements of the self-insurer have been audited and setting forth the current ratio of the self-insurer at the time of the audit;

(b) A report on a form provided by the Department indicating the number of accidents, the number of claims submitted to be paid by the self-insurer, the amount of each claim, the amount paid to a claimant if the claim has been adjudicated and the adjusting companies which have settled claims on behalf of the self-insurer; and

(c) A complete listing of vehicles actively registered in this State in the name of the self-insurer on a form approved by the Department.

Each self-insurer shall submit these reports no earlier than 60 days before and no later than 15 days before the date of expiration of its certificate of self-insurance.

2. A self-insurer may settle its own claims or use the services of an adjusting company licensed in accordance with chapter 684A of NRS to settle claims on its behalf. If the self-insurer uses an adjusting company to settle claims, an affidavit must be included with the reports submitted pursuant to subsection 1 which lists all companies that settled claims during the reporting period.

[Dep’t of Motor Veh., Self-insurance Reg. § XII, eff. 4-29-82]—(NAC A by R162-01, 2-12-2002; R164-03, 10-31-2005)

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.