686B.100 - Filing of supporting data. - Nevada Statutes

686B.100  Filing of supporting data.

      1.  By rule, the Commissioner may require the filing of supporting data as to any or all kinds or lines of insurance or subdivisions thereof or classes of risks or combinations thereof as the Commissioner deems necessary for the proper functioning of the process for monitoring and regulating rates. The supporting data must include:

      (a) The experience and judgment of the filer, and, to the extent it wishes or the Commissioner requires, of other insurers or rate service organizations;

      (b) Its interpretation of any statistical data relied upon;

      (c) Descriptions of the actuarial and statistical methods employed in setting the rates; and

      (d) Any other relevant matters required by the Commissioner.

      2.  Whenever a filing of a proposed increase in a rate is not accompanied by such information as the Commissioner has required under subsection 1, the Commissioner may so inform the insurer and the filing shall be deemed to be made when the information is furnished.

      (Added to NRS by 1971, 1701; A 1985, 1068; 1987, 1534; 1989, 601, 2176)