Section 681B.100 - Contingency reserves for insurance of repayment of debt secured by mortgage1. Casualty or surety insurers insuring real property mortgage lenders against loss by reason of nonpayment of the mortgage indebtedness by the borrower shall maintain a contingency reserve for the protection of policyholders against the effects of adverse economic cycles.2. The insurer shall contribute to such contingency reserve 50 percent of net premiums (gross premiums less premiums returned to policyholders) written on such insurance remaining after establishment of the unearned premium reserve.3. Subject to the Commissioner's approval, the contingency reserve shall be available for payment of losses only when the insurer's incurred losses in any 1 calendar year exceed the rate formula expected losses by 10 percent of the related earned premiums.Added to NRS by 1971, 1612Added to NRS by 1971, 1612