616C.415 - Written explanation of alternative settlements to be given to employee or dependents. - Nevada Statutes

616C.415  Written explanation of alternative settlements to be given to employee or dependents.

      1.  Every injured employee, widow, widower or dependent, within the provisions of chapters 616A to 616D, inclusive, of NRS, is entitled to receive from a qualified employee of the insurer an explanation of the various alternatives implicit in lump-sum compensation or other settlement pursuant to those chapters and the long-range effects of a determination made as to one or the other kind of settlement.

      2.  The insurer shall provide a written explanation of the alternatives pursuant to subsection 1.

      3.  Upon selecting an alternative, the injured employee, widow, widower or dependent shall provide his or her selection in writing to the insurer.

      (Added to NRS by 1971, 770; A 1981, 1497; 1991, 2426)—(Substituted in revision for NRS 616.623)