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Nevada Revised Statutes Title 57. Insurance § 681B.240. Requirements for opinion; applicability

Current as of January 01, 2025 | Updated by Findlaw Staff

1. Every opinion must:

(a) Be submitted with the annual statement reflecting the valuation of reserve liabilities for each year ending on or after December 31, 1996.

(b) Apply to all business in force including, without limitation, individual and group health insurance plans, in form and substance acceptable to the Commissioner as specified by regulation.

(c) Be based on standards adopted from time to time by the Actuarial Standards Board or a successor organization approved by the Commissioner and on such additional standards as the Commissioner may by regulation prescribe.

2. In the case of an opinion required to be submitted by a foreign or alien company, the Commissioner may accept the opinion filed by that company with the commissioner of insurance of another state if the Commissioner determines that the opinion reasonably meets the requirements applicable to an insurer domiciled in this state.

3. Except as otherwise provided in NRS 681B.310, the provisions of this section apply only before the operative date of the Valuation Manual.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 681B.240. Requirements for opinion; applicability - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-681b-240/

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