692A.180 - Limitation on net retained liability for single risk; waiver of limitation by Commissioner. - Nevada Statutes

692A.180  Limitation on net retained liability for single risk; waiver of limitation by Commissioner.

      1.  The net retained liability of any title insurer for a single risk, whether assumed directly or as reinsurance, may not exceed 50 percent of the sum of the capital, surplus, unearned premium reserve and voluntary reserves less the value assigned to its title plants, all as shown in the most recent report of the insurer which is on file in the Office of the Commissioner.

      2.  The Commissioner may waive the limitation of this section for a particular risk upon application of the insurer and for good cause shown.

      (Added to NRS by 1977, 983)