NRS 690B.330
Required reduction in premium for implementation of qualified risk management system.

1.

In each rating plan of an insurer that issues a policy of professional liability insurance to a practitioner licensed pursuant to chapter 630 or 633 of NRS, the insurer shall provide for a reduction in the premium for the policy if the practitioner implements a qualified risk management system. The amount of the reduction in the premium must be determined by the Commissioner in accordance with the applicable standards for rates established in NRS 686B.010 to 686B.1799, inclusive.

2.

A qualified risk management system must comply with all requirements established by the Commissioner.

3.

The Commissioner shall adopt regulations to:

(a)

Establish the requirements for a qualified risk management system; and

(b)

Carry out the provisions of this section.

4.

The provisions of this section apply to all rating plans which an insurer that issues a policy of professional liability insurance to a practitioner licensed pursuant to chapter 630 or 633 of NRS files with the Commissioner on and after the effective date of the regulations adopted by the Commissioner pursuant to this section.

Source: Section 690B.330 — Required reduction in premium for implementation of qualified risk management system., https://www.leg.state.nv.us/NRS/NRS-690B.html#NRS690BSec330 (accessed May 26, 2025).

690B.200
Definitions. 690B.210
“Claims-made policy” defined. 690B.220
“Extended reporting endorsement” defined. 690B.230
“Practitioner” defined. 690B.240
“Professional liability insurance” defined. 690B.250
Practitioners of the healing arts: Reports to licensing boards 690B.260
Physicians and osteopathic physicians: Reports to Commissioner and licensing boards. 690B.270
Disclosure of reasons for failure to issue professional liability insurance. 690B.280
Disclosure of reasons for higher premium. 690B.290
Insurer required to offer extended reporting endorsement to certain practitioners 690B.300
Prohibition against setting different premium rates based on number of babies delivered for certain practitioners 690B.310
Prohibition against confidentiality of certain information relating to settlement of claim for breach of professional duty of certain practitioners. 690B.320
Insurer required to offer extended reporting endorsement 690B.330
Required reduction in premium for implementation of qualified risk management system. 690B.340
Review of settlement or judgment by Commissioner. 690B.350
Essential medical specialties: Determination, cancellation, termination or nonrenewal of professional liability insurance. 690B.360
Information pertinent to monitoring compliance with applicable standards for rates: Commissioner to collect 690B.370
Annual report on loss prevention and control programs.

May 26, 2025

§ 690B.330. Required reduction in premium for implementation of qualified risk management system.'s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_690b.330

Original Source: Section 690B.330 — Required reduction in premium for implementation of qualified risk management system., https://www.leg.state.nv.us/NRS/NRS-690B.html#NRS690BSec330 (last accessed May 10, 2025).