NAC693A.760. Notice of relationship between controlling broker and controlled insurer; statement required if business is placed through broker who is not controlling broker.  


Latest version.
  •      1. A controlling broker, before the effective date of a policy of insurance, shall deliver written notice to the prospective insured that discloses the relationship between the controlling broker and the controlled insurer.

         2. If a controlling broker places insurance business through a broker who is not a controlling broker, the controlling broker shall retain in his or her records a signed statement from the other broker indicating that the other broker is aware of the relationship between the controlling broker and the controlled insurer and will notify the insured of the relationship.

     (Added to NAC by Comm’r of Insurance, eff. 6-28-96)