Nev. Admin. Code § 693A.630

Current through November 8, 2024

Section 693A.630 - "Captive insurer" defined

"Captive insurer" means an insurance company which is owned by:

1. A parent organization and whose exclusive purpose is to insure risks of the parent organization and any affiliated companies of the parent organization; or

2. More than one insured and whose exclusive purpose is to insure risks of the insureds and members of the insureds, if any, and any affiliates of the insureds or the members of the insureds.

Nev. Admin. Code § 693A.630

Added to NAC by Comm'r of Insurance, eff. 6-28-96

NRS 679B.130, 693A.110