NAC688A.500. Engaging in certain acts or practices regarding sales to active duty service members.

     1. An insurer or producer of insurance engages in an unfair or deceptive act or practice in violation of NRS 686A.020 if the insurer or producer of insurance sells to a person who the insurer knows, or, with the exercise of ordinary care, would know, is an active duty service member any annuity or life insurance product, other than accidental death coverage, that excludes coverage if the death of the insured active duty service member is related to a declared or undeclared war or any other act related to military service.

     2. As used in this section:

     (a) “Active duty service member” has the meaning ascribed to it in NAC 686A.486.

     (b) “Life insurance product” has the meaning ascribed to it in NAC 686A.4885.

     (Added to NAC by Comm’r of Insurance by R031-07, 8-31-2007, eff. 9-1-2007)

Notation

REVISER’S NOTE.

      The regulation of the Commissioner of Insurance filed with the Secretary of State on August 31, 2007 (LCB File No. R031-07), the source of this section (section 24 of the regulation), became effective on September 1, 2007, and contains the following provision not included in NAC:

      “The amendatory provisions of this regulation apply to an act or practice which occurs on or after September 1, 2007.”