NRS 685A.072
Domestic surplus lines insurer: Designation

  • authority
  • requirements for broker who places surplus lines insurance with insurer
  • applicability of other provisions.

1.

An insurer which is domiciled in this State may be designated as a domestic surplus lines insurer by the Commissioner if:

(a)

The insurer possesses capital and surplus of not less than $15,000,000; or

(b)

The Commissioner makes an affirmative finding of acceptability pursuant to subsection 3 of NRS 685A.070.

2.

A designation by the Commissioner of an insurer as a domestic surplus lines insurer must be in writing.

3.

A domestic surplus lines insurer may accept surplus lines insurance in any jurisdiction in which it is eligible.

4.

A broker who places surplus lines insurance with a domestic surplus lines insurer shall comply with:

(a)

The provisions of NRS 685A.175 and 685A.180; and

(b)

All other provisions of this chapter which apply to the export of nonadmitted insurance for an insured for which this State is the home state.

5.

Except as otherwise provided by specific statute, the provisions of this Code regarding financial and solvency requirements apply to a domestic surplus lines insurer.

6.

The provisions of chapter 686C and 687A of NRS do not apply to a domestic surplus lines insurer.

Source: Section 685A.072 — Domestic surplus lines insurer: Designation; authority; requirements for broker who places surplus lines insurance with insurer; applicability of other provisions., https://www.­leg.­state.­nv.­us/NRS/NRS-685A.­html#NRS685ASec072.

685A.010
Short title. 685A.020
Exemptions. 685A.025
Applicability. 685A.030
Definitions. 685A.031
“Broker” defined. 685A.032
“Exempt commercial purchaser” defined. 685A.033
“Export” defined. 685A.034
“Home state” defined. 685A.035
“Independently procured insurance” defined. 685A.036
“Multi-state risk” defined. 685A.037
“Nonadmitted insurance” defined. 685A.038
“Principal place of business” defined. 685A.039
“Surplus lines insurance” defined. 685A.040
Conditions for export. 685A.050
Broker’s report. 685A.060
Open lines for export. 685A.070
Eligible insurers. 685A.072
Domestic surplus lines insurer: Designation 685A.075
Nonprofit organization of brokers: Formation 685A.077
Immunity from civil liability given to Commissioner, Division and nonprofit organizations for certain acts 685A.080
Evidence of insurance 685A.090
Contracts for nonadmitted coverage: Requirements. 685A.100
Coverage from unauthorized insurer valid. 685A.110
Liability of insurer. 685A.120
Licensing of brokers 685A.127
Payment of child support: Statement by applicant for license 685A.133
Suspension of license for failure to pay child support or comply with certain subpoenas or warrants 685A.140
Suspension or revocation of broker’s license. 685A.150
Broker may accept business from licensed producer of insurance 685A.155
Licensed surplus lines broker may charge fee for procuring coverage 685A.160
Records of broker. 685A.175
Quarterly report and payment of tax by certain brokers. 685A.180
Tax on surplus lines. 685A.185
Multi-state agreement to collect premium tax on multi-state risks. 685A.190
Failure to file statement or pay tax 685A.200
Suit against insurers 685A.205
Regulations: Compliance with federal law relating to nonadmitted insurance. 685A.210
Regulations 685A.220
Applicability of other provisions. 685A.0315
“Domestic surplus lines insurer” defined. 685A.0375
“Nonadmitted insurer” defined. 685A.0385
“Principal residence” defined.
Last Updated

Feb. 5, 2021

§ 685A.072’s source at nv​.us