NAC689A.445. Change of status: Application; approval; confidentiality; notice of approval or disapproval.

     1. An individual carrier that elected to operate as an individual risk-assuming or reinsuring carrier pursuant to NRS 689A.670 may apply to the Commissioner to change its status.

     2. The Commissioner will approve an application to change the status of an individual carrier if the individual carrier provides adequate evidence that a change in status is necessary for the individual carrier to meet its contractual and statutory obligations.

     3. An individual carrier that applies for a change in its status pursuant to subsection 2 may request that the information on its application be kept confidential if disclosure of the information would adversely affect the financial solvency of the individual carrier or promote unfair competition among other individual carriers. The Commissioner will notify an individual carrier in writing of his or her decision to approve or disapprove a request for confidentiality within 30 days after receipt of the request.

     4. The Commissioner will notify an individual carrier in writing of his or her decision to approve or disapprove an application to change the status of an individual carrier pursuant to subsection 2 within 60 days after receipt of the application.

     (Added to NAC by Comm’r of Insurance by R224-97, eff. 11-16-98)