NAC689B.030. Certification, filing and approval of policy.

     1. If an insurer certifies its filing pursuant to this section and mails it to the Division by certified mail, the approval of the filing of the policy shall be deemed to be effective upon the date of the mailing subject to the notice of disapproval provided in NRS 687B.130.

     2. An insurer’s filing may be approved if it certifies, on a form provided by the Division, that:

     (a) The policy is issued to a group formed to purchase insurance pursuant to NRS 688B.030 or 689B.026;

     (b) The policy contains the terms and benefits required by title 57 of NRS;

     (c) The benefits payable are reasonable in relation to the premiums charged; and

     (d) To the best of the insurer’s knowledge, the association to whom the policy is delivered is financially sound.

     3. With its certification, the insurer shall submit the documents listed in subsections 1 and 3 to 7, inclusive, of NAC 689B.020, and clearly identify within the filing each section which meets the requirements of title 57 of NRS and NAC 689B.010 to 689B.090, inclusive.

     4. An insurer certifying its policy shall include a copy of its certification with its marketing and promotional materials furnished to any agent or broker in this State.

     (Added to NAC by Comm’r of Insurance, eff. 10-12-88; A 5-27-92)