NAC680A.410. Countersignatures: Property and casualty insurance.

     1. Countersignature fees and commissions may be negotiated for services required of a countersigning producer of insurance appointed by an insurer.

     2. A countersigning producer of insurance appointed by an insurer shall maintain complete records of countersignature transactions, including daily reports, correspondence, names of agents and brokers who wrote the policies, and evidence of fees and commissions charged.

     3. A countersigning producer of insurance appointed by an insurer shall handle normal problems arising between agents and customers, and is answerable to the Division for complaints and problems relating to policies which he or she has countersigned.

     4. All commissions on property and casualty insurance which was sold by an agent or broker who is not licensed in Nevada and which covers a risk located in Nevada must be paid to a countersigning producer of insurance appointed by the applicable insurer.

     [Comm’r of Insurance, PC-4, eff. 9-23-72]—(NAC A 5-27-92; R102-09, 1-28-2010)