NAC686A.210. Transfer of property with existing coverage.

Latest version.

     1. No agent, broker or insurer may participate in any transaction in which an insured is forced to cancel existing coverage on property which the insured is transferring to another and purchase other coverage on newly acquired property if the coverage is adequate for the newly acquired property.

     2. This section applies to all agents, brokers and insurers, including, without limitation, lenders which issue coverage as agents and agencies with which the lender is in any way connected.

     3. As used in this section, “agent” has the meaning ascribed to it in NRS 683A.321.

[Comm’r of Insurance, PC-8, eff. 9-23-72]—(NAC A by Div. of Insurance by R089-98, 9-25-98; A by Comm’r of Insurance by R054-12, 11-1-2012)

                    
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