NAC680A.172. Exemption from filing for certain qualified insurers; exceptions.

For the purposes of NRS 680A.265, the Commissioner will find that good cause exists for the exemption of an insurer from the requirements of NRS 680A.265 for the immediately preceding calendar year if, at the end of that year, the insurer has direct premiums written in this State in an amount which is less than $1,000,000 and has less than 1,000 policyholders, certificate holders, enrollees, members or subscribers of directly written policies in the United States unless:

     1. The Commissioner makes a specific finding that compliance by that insurer is necessary for the Commissioner to carry out his or her statutory responsibilities; or

     2. The insurer has assumed premiums pursuant to contracts or treaties of reinsurance in an amount of $1,000,000 or more.

     (Added to NAC by Comm’r of Insurance, eff. 5-23-96; A by R076-02, 9-20-2002; R244-03, 7-26-2004; R082-06, 9-18-2006)