616B.463 - Authorization and security required before industrial insurance may be provided by private carrier; private carrier subject to Nevada Insurance Code. - Nevada Statutes

616B.463  Authorization and security required before industrial insurance may be provided by private carrier; private carrier subject to Nevada Insurance Code.

      1.  Before a private carrier may provide industrial insurance pursuant to chapters 616A to 617, inclusive, of NRS, the private carrier must be authorized by the Commissioner pursuant to chapter 680A of NRS and maintain such security of the kind described in NRS 680A.120 and 680A.140 as may be required.

      2.  A private carrier shall not provide industrial insurance pursuant to chapters 616A to 617, inclusive, of NRS as an unauthorized insurer pursuant to subsection 9 of NRS 680A.070.

      3.  A private carrier that is authorized by the Commissioner to provide industrial insurance pursuant to subsection 1:

      (a) Constitutes an authorized insurer, as that term is defined in NRS 679A.030; and

      (b) Is subject to the provisions of title 57 of NRS that govern authorized insurers.

      (Added to NRS by 1995, 2001; A 1997, 286; 1999, 400, 1722)