616B.461 - Notification of Administrator regarding issuance, renewal, cancellation or reinstatement of policy; investigation of information reported by private carrier. - Nevada Statutes

616B.461  Notification of Administrator regarding issuance, renewal, cancellation or reinstatement of policy; investigation of information reported by private carrier.

      1.  An employer who cancels a policy of industrial insurance issued to the employer by a private carrier shall notify the Administrator in writing within 20 days after the cancellation, specifying the date on which the cancellation became effective, unless the employer’s subsequent insurer is a private carrier who has already notified the Administrator pursuant to subsection 2 that it has issued a new policy to that employer. The notice must be served personally or sent by first-class mail or electronic transmission to the Administrator. If the employer has secured insurance with another insurer that could cause double coverage, the date on which cancellation of the previous policy became effective must be the effective date of the new insurance.

      2.  A private carrier shall notify the Administrator in writing within 15 days after the private carrier:

      (a) Issues a policy of industrial insurance.

      (b) Renews a policy of industrial insurance.

      (c) Reinstates a policy of industrial insurance that had been temporarily cancelled.

      (d) Cancels or does not renew a policy of industrial insurance.

      3.  If the Administrator believes that a private carrier has inaccurately reported the information required pursuant to subsection 2 and notifies the private carrier of the alleged inaccuracy, the private carrier shall within 30 calendar days after receiving the notification:

      (a) Investigate the alleged inaccuracy; and

      (b) Submit to the Administrator accurate information or information proving that the previously submitted information was accurate.

      4.  During the period of investigation by the private carrier, the Administrator may not impose any administrative fines, issue a notice of correction or take any other corrective action against the private carrier. If the private carrier is able to prove that the information originally submitted to the Administrator or, if applicable, the designated agent of the Administrator, was accurate, the Administrator may not impose any administrative fines, issue a notice of correction or take any other corrective action against the private carrier. As used in this subsection, “designated agent” means an agent who is authorized by the Administrator to receive, compile and forward to the Administrator the information required pursuant to subsection 2.

      (Added to NRS by 2001, 801)