NRS 686B.070 Filing of rates, forms of related policies and supplementary information and any changes and amendments thereof with Commissioner.

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1. Every authorized insurer and every rate service organization licensed under NRS 686B.140 which has been designated by any insurer for the filing of rates under subsection 2 of NRS 686B.090 shall file with the Commissioner, either pursuant to this section or, if applicable, pursuant to NRS 686B.073 , all:

(a)Rates and proposed increases thereto;

(b)Forms of policies to which the rates apply;

(c)Supplementary rate information; and

(d)Changes and amendments thereof,

Ê made by it for use in this state.

2. A filing made pursuant to this section must include a proposed effective date and must be filed not less than 30 days before that proposed effective date, except that a filing for a proposed increase or decrease in a rate may include a request that the Commissioner authorize an effective date that is earlier than the proposed effective date.

3. If an insurer makes a filing for a proposed increase in a rate for insurance covering the liability of a practitioner licensed pursuant to chapter 630 , 631 , 632 or 633 of NRS for a breach of the practitioner’s professional duty toward a patient, the insurer shall not include in the filing any component that is directly or indirectly related to the following:

(a)Capital losses, diminished cash flow from any dividends, interest or other investment returns, or any other financial loss that is materially outside of the claims experience of the professional liability insurance industry, as determined by the Commissioner.

(b)Losses that are the result of any criminal or fraudulent activities of a director, officer or employee of the insurer.

Ê If the Commissioner determines that a filing includes any such component, the Commissioner shall, pursuant to NRS 686B.110 , disapprove the proposed increase, in whole or in part, to the extent that the proposed increase relies upon such a component.

4. If an insurer makes a filing for a proposed increase in a rate for a health benefit plan, as that term is defined in NRS 687B.470 , the filing must include a unified rate review template, a written description justifying the rate increase and any rate filing documentation.

5. As used in this section, “rate filing documentation,” “unified rate review template” and “written description justifying the rate increase” have the meanings ascribed in 45 C.F.R. § 154.215.