Nev. Rev. Stat. § 692C.055

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

Section 692C.055 - "Enterprise risk" defined

"Enterprise risk" means any activity, circumstance, event or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect on the financial condition or liquidity of the insurer or its insurance holding company system as a whole, including, without limitation, any activity, circumstance, event or series of events that may cause:

1. The risk-based capital of the insurer to fall below the minimum amount of risk-based capital required by regulations adopted pursuant to NRS 681B.290; or

2. The insurer to be in a hazardous financial condition as set forth in regulations adopted pursuant to NRS 680A.205.

NRS 692C.055

Added to NRS by 2013, 3357

Added by 2013, Ch. 511,§11, eff. 10/1/2013.