The Nevada Division of Insurance proposed two sets of rules to implement laws passed in 2015 and 2017 addressing financial reporting requirements for third-party administrators, and adopting the National Association of Insurance Commissioners model legislation on insurance adjuster licensing.
Nevada law requires newly formed businesses to file a balance sheet with estimated income and expenses for the first year along with evidence that the third-party administrator can pay its obligations as they become due.
Legislation passed in 2015 allowed third-party administrators that are wholly owned...
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