NAC680A.187. Consolidated statement for group of insurance companies; contents of required worksheet.

     1. An insurer may apply in writing to the Commissioner for approval to file audited consolidated or combined financial statements in lieu of a separate annual Audited Financial Report if the insurer:

     (a) Is part of a group of insurance companies that uses a pooling or 100 percent reinsurance agreement that affects the solvency and integrity of the insurer’s reserves; and

     (b) Cedes all of its direct and assumed business to the pool.

     2. If the Commissioner approves the consolidated or combined filing, the insurer shall file with its report a columnar consolidating or combining worksheet as follows:

     (a) The amounts shown on the consolidated or combined annual Audited Financial Report must be shown on the worksheet;

     (b) The amounts for each insurer subject to the consolidated or combined annual Audited Financial Report filed pursuant to NRS 680A.265 and the regulations adopted pursuant thereto must be stated separately;

     (c) The amounts from the operations of the insurer which are not related to insurance must be shown on the worksheet on a combined or individual basis;

     (d) Explanations of entries which are consolidated or eliminated must be included; and

     (e) A reconciliation must be included of any differences between the amount shown on the column for the individual insurer and the comparable amount shown on the annual statement of the insurers.

     (Added to NAC by Comm’r of Insurance by R205-08, 11-25-2009, eff. 1-1-2010)