Nev. Rev. Stat. § 691C.340

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 691C.340 - Insurer authorized to use rates established by Commissioner in lieu of filing rates; regulations

The Commissioner may, by regulation, establish rates that an insurer may use without filing pursuant to NRS 691C.320. In establishing such rates, the Commissioner shall consider and apply the following factors:

1. Actual and expected loss experience;

2. General and administrative expenses;

3. Loss settlement and adjustment expenses;

4. Reasonable creditor compensation;

5. The manner in which premiums are charged;

6. Other acquisition costs;

7. Reserves;

8. Taxes;

9. Regulatory license fees and fund assessments;

10. Reasonable insurer profit; and

11. Other relevant data consistent with generally accepted actuarial standards.

NRS 691C.340

Added to NRS by 2005, 2111; A 2017, 2383

Amended by 2017, Ch. 376,§130, eff. 7/1/2017.

Added to NRS by 2005, 2111