NAC685A.205. Duties of brokers.

     1. A broker shall make a reasonable effort to determine the financial solvency of any foreign or alien insurer which is not an admitted insurer and is not an insurer listed on the Quarterly Listing of Alien Insurers maintained by the International Insurers Department of the National Association of Insurance Commissioners before placing any surplus lines insurance for an insured for which Nevada is the home state with that insurer.

     2. Upon the Commissioner’s request, whether made before or after the placement of any surplus lines insurance for an insured for which Nevada is the home state with a foreign or alien insurer which is not an admitted insurer, the broker shall submit to the Commissioner the latest financial statement or any supplemental information concerning the insurer.

     [Comm’r of Insurance, PC-22, § 4, eff. 7-18-80]—(NAC A 3-5-91; 5-27-92; R034-12, 9-14-2012)