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Insurance Division Proposes TPA Notification and Adjuster Licensing Rules

Thursday, May 17, 2018 | 259 | 0 | 87 min read

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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