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NRS 686B.1786 - Large-deductible agreements: Applicability.

NV Rev Stat § 686B.1786 (2019) (N/A)
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This section and NRS 686B.17863 and 686B.17867 apply to any policy of industrial insurance which:

1. Is issued by an insurer which:

(a) Has a rating of less than “A-” from A.M. Best Company, Inc., or a substantially equivalent rating from another rating agency, as determined by the Commissioner; and

(b) Has less than $200,000,000 in surplus, with surplus calculated as the difference between the insurer’s net admitted assets and the insurer’s total liabilities;

2. Contains a large-deductible agreement;

3. Is not issued to a federal, state or local governmental entity; and

4. Is issued for delivery or renewed on or after January 1, 2018.

(Added to NRS by 2017, 2343)

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NRS 686B.17863 - Large-deductible agreements: Full collateralization required; size of obligations limited.