683A.0883 - Basis for compensation of administrator. - Nevada Statutes

683A.0883  Basis for compensation of administrator.

      1.  The compensation paid to an administrator for his or her services may be based upon premiums or charges collected, on number of claims paid or processed or on any other basis agreed upon by the administrator and the insurer, except as provided in subsection 2.

      2.  Compensation paid to an administrator may not be based upon or contingent upon:

      (a) The claim experience of the policies that he or she handles; or

      (b) The savings realized by the administrator by adjusting, settling or paying the losses covered by an insurer.

      (Added to NRS by 1977, 731; A 1999, 2796)