679B.430 - Commissioner may issue orders for compliance with provisions; regulation of recording and reporting of information by insurers; insurer to report information and pay fee. - Nevada Statutes

679B.430  Commissioner may issue orders for compliance with provisions; regulation of recording and reporting of information by insurers; insurer to report information and pay fee.

      1.  The Commissioner may issue such orders as are necessary to require compliance with the provisions of NRS 679B.400 to 679B.460, inclusive.

      2.  The Commissioner shall adopt regulations requiring each insurer authorized to transact casualty or property insurance in this state to record and report its losses, expenses and other information necessary to assess the relationship of premiums and related income to costs and expenses of insurers. The Commissioner may designate one or more rate service organizations or other advisory organizations to gather and compile this information. The Commissioner shall require each insurer authorized to transact casualty or property insurance in this state to submit reports, on forms furnished by the Commissioner, of its transactions in insurance in this state and elsewhere.

      3.  If a rate service organization or other advisory organization designated pursuant to subsection 2 imposes a fee for the filing, processing or review of information required to be filed by this section, the insurer shall pay that fee and file the information.

      (Added to NRS by 1989, 1227)