NRS 694C.210
Application: Requirement

  • contents.
A captive insurer must apply to the Commissioner for a license. The application must include:

1.

A certified copy of the charter and bylaws of the captive insurer;

2.

A pro forma financial statement for the captive insurer that has been prepared by a certified public accountant or an actuary authorized by the Division to conduct business in this State;

3.

Any other statements or documents that the Commissioner requires to be filed with the application;

4.

Evidence of:

(a)

The amount and liquidity of its assets relative to the risks to be assumed by the captive insurer;

(b)

The expertise, experience and character of the persons who will manage the captive insurer;

(c)

The overall soundness of the plan of operation of the captive insurer; and

(d)

The adequacy of the programs of the captive insurer providing for loss prevention by its parent or member organizations, as applicable; and

5.

Such other information deemed to be relevant by the Commissioner in ascertaining whether the proposed captive insurer will be able to meet its policy obligations.

Source: Section 694C.210 — Application: Requirement; contents., https://www.­leg.­state.­nv.­us/NRS/NRS-694C.­html#NRS694CSec210.

Last Updated

Feb. 5, 2021

§ 694C.210’s source at nv​.us