NAC690A.175. Annual reports of experience data; review of prima facie rates by Commissioner.

An insurer that provides consumer credit insurance shall, on or before June 30 of each year, report its experience data annually to the Commissioner, on a form prescribed by the Commissioner. The initial such report must be submitted by the insurer on or before September 1, 2008. The Commissioner will use this data to determine annually whether the prima facie rates for credit life insurance, credit accident and health insurance and credit unemployment insurance set forth in NAC 690A.105 to 690A.155, inclusive, are reasonable in relation to the benefits provided. If the Commissioner determines that the rates are not reasonable, the Commissioner will adopt new rates.

     (Added to NAC by Comm’r of Insurance by R014-06, 3-23-2007, eff. 4-1-2007; A by R145-08, 9-18-2008)