NAC691C.190. Annual reports of experience data; review of recommended premium rates by Commissioner.

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An insurer that provides credit personal property insurance, including, without limitation, guaranteed asset protection insurance, shall 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 July 1, 2008. The Commissioner will use this data to determine annually whether the rates set forth in NAC 691C.110 to 691C.170, inclusive, are reasonable in relation to the benefits provided. If the Commissioner determines that those rates are not reasonable in any given year, the Commissioner will adopt new rates.

(Added to NAC by Comm’r of Insurance by R114-06, 3-23-2007, eff. 4-1-2007)

                    
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