Nev. Rev. Stat. § 686B.1769

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 686B.1769 - Uniform Plan for Rating Experience: Requirements; use
1. The Uniform Plan for Rating Experience must:
(a) Contain reasonable standards for eligibility in the Plan;
(b) Provide adequate incentives for employers to prevent losses; and
(c) Permit sufficient differences in an insurer's premiums to encourage safety at the employer's place of business.
2. The Plan must be the exclusive basis for adjusting future premiums by evaluating an individual employer's characteristics which tend to produce losses, but an insurer may file a rating plan that provides for an adjustment of premiums retrospectively based on an individual employer's past experience of losses.

NRS 686B.1769

Added to NRS by 1995, 2051
Added to NRS by 1995, 2051