NAC616B.534. Maintenance and administration of policy of excess insurance.

Latest version.

     1. Each association shall maintain a policy of specific and aggregate excess insurance with a self-insured retention of no less than $100,000.

     2. The policy of excess insurance and any proof of that insurance must be countersigned by a producer of insurance appointed by the insurer which issued the policy.

     3. The Commissioner will review the amount of insurance required for an association and may adjust the amount if he or she determines that changed conditions warrant an adjustment.

     4. As used in this section, “producer of insurance” has the meaning ascribed to it in NRS 679A.117.

(Added to NAC by Comm’r of Insurance, eff. 3-22-96; A by R102-09, 1-28-2010)

                    
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