NRS 685A.110 - Liability of insurer.

NV Rev Stat § 685A.110 (2019) (N/A)

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1. As to a surplus lines risk which has been assumed by an unauthorized insurer pursuant to the Nonadmitted Insurance Law, and if the premium thereon has been received by the surplus lines broker who placed such insurance, in all questions thereafter arising under the coverage between the insurer and the insured the insurer shall be deemed to have received the premium due to it for such coverage; and the insurer shall be liable to the insured for losses covered by such insurance, and for unearned premiums which may become payable to the insured upon cancellation of such insurance, whether or not in fact the broker is indebted to the insurer with respect to such insurance or for any other cause.

2. Each unauthorized insurer assuming a surplus lines risk under the Nonadmitted Insurance Law shall be deemed thereby to have subjected itself to the terms of this section.

(Added to NRS by 1971, 1676; A 2011, 2016)

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NRS 685A.100 - Coverage from unauthorized insurer valid.

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NRS 685A.120 - Licensing of brokers; expiration and renewal of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]