679B.400 - Legislative findings and declarations; purposes. - Nevada Statutes

679B.400  Legislative findings and declarations; purposes.

      1.  The Legislature finds and declares that:

      (a) Stabilizing the cost of insurance is of vital concern to the residents of this state; and

      (b) It is necessary to establish a comprehensive system to collect, analyze and distribute information concerning the cost of insurance in order to stabilize that cost effectively.

      2.  The purposes of NRS 679B.400 to 679B.460, inclusive, are to:

      (a) Promote the public welfare by studying the relationship of premiums and related income of insurers to costs and expenses of insurers;

      (b) Develop measures to stabilize prices for insurance while continuing to provide insurance of high quality to the residents of this state;

      (c) Permit and encourage competition between insurers on a sound financial basis to the fullest extent possible;

      (d) Establish a mechanism to ensure the provision of adequate insurance at reasonable rates to the residents of this state; and

      (e) Protect the rights of customers of insurance in this state.

      (Added to NRS by 1989, 1226; A 1991, 1620; 1995, 1415)