NRS 681A.190
Reinsurance ceded to group of incorporated insurers under common administration.

1.

Credit must be allowed if reinsurance is ceded to a group of incorporated insurers under common administration which:

(a)

Does not engage in any business other than underwriting as a member of the group;

(b)

Is subject to the same amount of regulation and solvency control by the group’s domiciliary regulator as are the unincorporated members of the group;

(c)

Reports annually to the Commissioner the information required by subsection 1 of NRS 681A.180;

(d)

Has continuously transacted insurance outside the United States for at least 3 years immediately before making an application for accreditation;

(e)

Submits to this state’s authority to examine its books and records and bears the expense of the examination;

(f)

Has aggregate policyholders’ surplus of $10,000,000,000; and

(g)

Maintains a trust pursuant to subsection 2.

2.

The trust must be in an amount equal to the group’s several liabilities attributable to business ceded by ceding insurers in the United States to any member of the group pursuant to contracts of reinsurance issued in the name of the group, and the group shall maintain a joint surplus in trust of which $100,000,000 must be held jointly for the benefit of ceding insurers in the United States to any member of the group as additional security for any such liabilities.

3.

Each member of the group shall, within 90 days after the date its financial statements must be filed with the group’s domiciliary regulator, make available to the Commissioner an annual certification of the member’s solvency by the member’s domiciliary regulator and its independent public accountant.

Source: Section 681A.190 — Reinsurance ceded to group of incorporated insurers under common administration., https://www.­leg.­state.­nv.­us/NRS/NRS-681A.­html#NRS681ASec190.

681A.140
“Qualified financial institution in the United States” defined. 681A.150
Requirements for taking credit. 681A.155
Reinsurance ceded to assuming certified reinsurer. 681A.160
Reinsurance ceded to assuming accredited reinsurer in Nevada 681A.170
Reinsurance ceded to assuming alien insurer. 681A.180
Reinsurance ceded to assuming insurer which maintains trust fund for payment of valid claims 681A.190
Reinsurance ceded to group of incorporated insurers under common administration. 681A.200
Requirements for establishment or amendment of certain trusts. 681A.210
Requirements when assuming insurer is not licensed or accredited to transact insurance or reinsurance in this State. 681A.215
Requirements when assuming insurer does not meet certain requirements. 681A.220
Requirements when assuming insurer does not meet certain other requirements. 681A.230
Ceding insurer to be allowed credit if reinsurance lawfully ceded to qualified assuming insurer 681A.235
Management of concentration risk by ceding insurer. 681A.240
Requirements for reduction from liability when assuming insurer does not meet certain requirements concerning risk-based capital. 681A.1551
Certified reinsurer: Eligibility. 681A.1552
Certified reinsurer: Additional eligibility requirements for associations. 681A.1553
Certified reinsurer: Qualified jurisdictions. 681A.1554
Certified reinsurer: Ratings by Commissioner 681A.1555
Certified reinsurer: Required security. 681A.1556
Certified reinsurer: Applicant certified in certain jurisdictions may be deemed by Commissioner to be certified in Nevada. 681A.1557
Certified reinsurer: Inactive status.
Last Updated

Jun. 24, 2021

§ 681A.190’s source at nv​.us