692A.041 - “Premium” defined. - Nevada Statutes

692A.041  “Premium” defined.

      1.  “Premium” means charges for:

      (a) Assuming a risk;

      (b) Abstracting, searching and examining title to determine insurability; and

      (c) Any other activity associated with the assumption of risk.

      2.  “Premium” does not include charges for:

      (a) Escrow;

      (b) Settlement or closing; or

      (c) Other special services not associated with the assumption of risk, whether or not they are called premiums.

      (Added to NRS by 1977, 977)