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Current as of January 01, 2025 | Updated by Findlaw Staff
1. The Uniform Plan for Rating Experience must:
(a) Contain reasonable standards for eligibility in the Plan;
(b) Provide adequate incentives for employers to prevent losses; and
(c) Permit sufficient differences in an insurer's premiums to encourage safety at the employer's place of business.
2. The Plan must be the exclusive basis for adjusting future premiums by evaluating an individual employer's characteristics which tend to produce losses, but an insurer may file a rating plan that provides for an adjustment of premiums retrospectively based on an individual employer's past experience of losses.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 686B.1769. Uniform Plan for Rating Experience: Requirements; use - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-686b-1769/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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