NRS 690A.097
Refund of unearned premiums

  • regulations
  • approval of refund formula.

1.

Each individual policy or group certificate must provide for a refund of unearned premiums if the consumer credit insurance is cancelled before the scheduled date of termination of the insurance.

2.

Except as otherwise provided in this section, any refund must be provided to the person to whom it is entitled as soon as practicable after the date of cancellation of the insurance.

3.

The Commissioner shall, by regulation, establish the minimum amount of unearned premiums that must remain outstanding at the time of cancellation in order for a person to be entitled to a refund. If the amount of unearned premiums that remains outstanding at the time of cancellation is less than the minimum amount established by regulation, the person is not entitled to a refund.

4.

The formula that an insurer uses to determine the amount of a refund must be submitted to and approved by the Commissioner before it is used.

Source: Section 690A.097 — Refund of unearned premiums; regulations; approval of refund formula., https://www.­leg.­state.­nv.­us/NRS/NRS-690A.­html#NRS690ASec097.

690A.010
Scope. 690A.011
Definitions. 690A.012
“Compensation” defined. 690A.015
“Credit insurance” and “consumer credit insurance” defined. 690A.016
“Credit life insurance” defined. 690A.017
“Creditor” defined. 690A.018
“Debtor” defined. 690A.045
Amounts of credit life insurance. 690A.050
Amounts of credit accident and health insurance or credit unemployment insurance. 690A.055
Combinations of consumer credit insurance 690A.063
Commencement of consumer credit insurance 690A.067
Term and cancellation of consumer credit insurance. 690A.073
Required disclosures. 690A.075
Acceptance of insurance by insurer other than named insurer 690A.077
Policies and certificates of insurance: Contents 690A.083
Delivery of application or notice of proposed insurance 690A.085
Policies, forms and schedules: Filing 690A.087
Adoption of forms by regulation 690A.093
Establishment of reasonable rates by regulation 690A.095
Filing of revised schedule of premium rates. 690A.097
Refund of unearned premiums 690A.103
Payment for consumer credit insurance without issuance of individual policy or group certificate. 690A.107
Amount charged for consumer credit insurance. 690A.120
Issuance of policies and certificates of consumer credit insurance. 690A.130
Claims. 690A.0135
“Credit accident and health insurance” defined. 690A.140
Existing insurance 690A.0163
“Credit transaction” defined. 690A.0167
“Credit unemployment insurance” defined. 690A.0195
“Gross debt” defined. 690A.0205
“Identifiable charge” defined. 690A.0243
“Net debt” defined. 690A.0247
“Open-end credit” defined. 690A.260
Transfers to unauthorized insurer. 690A.273
Creditor as agent of insurer. 690A.277
Regulations. 690A.280
Administrative penalties
Last Updated

Feb. 5, 2021

§ 690A.097’s source at nv​.us