Nev. Admin. Code § 690A.055 - Credit life insurance: Written certification

1. Each insurer wishing to provide coverage under a policy of credit life insurance shall, before offering that coverage in this State, certify in writing that the policy:
(a) Complies with the provisions of NRS NRS 690A.045; and
(b) Does not include a provision for the payment of unearned interest.
2. The written certification required pursuant to subsection 1 must be:
(a) Signed by an officer of the insurer and a qualified actuary; and
(b) Filed with the Commissioner.
3. An insurer may provide coverage under any policy of credit life insurance, including, without limitation, credit life insurance using a balloon payment, that is consistent with the provisions of this section and approved by the Commissioner.

Notes

Nev. Admin. Code § 690A.055
Added to NAC by Comm'r of Insurance by R145-08, eff. 9-18-2008

NRS 679B.130, 690A.277

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