NRS 686B.090 Rates and supplementary information: Established based on factors or through modified use of rate service organization in certain circumstances.
157 words·~1 min read·
/nv/chapter-686b-rates-and-essential-insurance/686b-090·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 686B.090 Rates and supplementary information: Established based on factors or through modified use of rate service organization in certain circumstances.
1. An insurer shall establish rates and supplementary rate information for any market segment based on the factors in NRS 686B.060 . If an insurer has insufficient creditable loss experience, it may use rates and supplementary rate information prepared by a rate service organization, with modification for its own expense and loss experience.
2. An insurer may discharge its obligation under subsection 1 of NRS 686B.070 by giving notice to the Commissioner that it uses rates and supplementary rate information prepared by a designated rate service organization, with such information about modifications thereof as are necessary fully to inform the Commissioner. The insurer’s rates and supplementary rate information shall be deemed those filed from time to time by the rate service organization, including any amendments thereto as filed, subject to the modifications filed by the insurer.