NAC616B.442. Maintenance and review of documents to ensure adequacy of security deposit.

A self-insured employer shall maintain such documents as are necessary to ensure the adequacy of the security deposit required by NRS 616B.300. To determine the accuracy of the recorded and reported amounts for claim reserves, the self-insured employer shall maintain and the Commissioner will review:

     1. A list of open and closed claims, which include:

     (a) The claimant’s name;

     (b) The number assigned to the claim;

     (c) The date of the injury;

     (d) The status of the claim, including whether it is open or closed;

     (e) The total reserve amount for medical and indemnity for each claim;

     (f) The total amount paid for medical costs and indemnity for each claim;

     (g) The total reserve balance for medical costs and indemnity for each claim;

     (h) The total incurred cost of each claim;

     (i) The total for all claims of payments for medical costs and indemnity; and

     (j) The total of reserve balances for all open claims, including future liabilities for medical costs and indemnity.

     2. A list of claims covered or paid by excess insurance.

     3. The cost of administration of claims.

     (Added to NAC by Comm’r of Insurance, eff. 1-4-91)—(Substituted in revision for NAC 616.163)