NRS 686B.1777 Circumstances under which Commissioner authorized to require supporting information regarding rates and required to hold hearing related to disapproval of rates.
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NRS 686B.1777 Circumstances under which Commissioner authorized to require supporting information regarding rates and required to hold hearing related to disapproval of rates.
1. If the Commissioner finds that:
(a)The interaction among insurers is not competitive;
(b)The rates filed by insurers whose interaction is competitive are inadequate or unfairly discriminatory; or
(c)The rates violate the provisions of this chapter,
Ê the Commissioner may require the insurers to file information supporting their existing rates. Before the Commissioner may disapprove those rates, the Commissioner shall notify the insurers and hold a hearing on the rates and the supplementary rate information.
2. The Commissioner may disapprove any rate without a hearing. Any insurer whose rates are disapproved in this manner may request in writing and within 30 days after the disapproval that the Commissioner conduct a hearing on the matter.