689C.300 - Carrier to file actuarial certification annually with Commissioner. - Nevada Statutes

689C.300  Carrier to file actuarial certification annually with Commissioner.

      1.  Each carrier serving small employers shall file with the Commissioner annually, on or before March 15, an actuarial certification that the carrier is in compliance with the provisions of NRS 689C.210 to 689C.260, inclusive, and that the rating methods of the carrier are actuarially sound. The certification must be made in a form and manner, and contain the information, specified by the Commissioner. A copy of the certification must be retained by the carrier at its principal place of business.

      2.  As used in this section, “actuarial certification” means a written statement by a member of the American Academy of Actuaries or other person acceptable to the Commissioner, based upon the certifier’s examination of the appropriate records of the carrier, including a review of the actuarial assumptions and methods used by the carrier in establishing premium rates for health benefit plans.

      (Added to NRS by 1995, 985)