Nev. Admin. Code § 690A.060 - Processing of certain claims: Search for and action on additional policies issued by insurer on life of decedent; applicability

1. Except as otherwise provided in subsection 4, upon the submission of a claim for a benefit under a policy of credit life insurance, the insurer issuing the policy shall conduct a search pursuant to the standard adopted pursuant to NAC 690A.050 of all the policies issued by the insurer to determine if any other policy issued by the insurer provides coverage on the life of the decedent.
2. If the person filing a claim provides information identifying other names by which the insured may have been known, the insurer shall search all the policies issued by the insurer to determine if the insured was covered by another policy under a different name.
3. If the insurer determines that it has issued another policy on the life of the insured, the insurer shall:
(a) Notify the policy owner and beneficiaries of the discovery of the policy; and
(b) Within 6 months after discovering the policy, determine whether the insurer has liability to pay a claim on the policy.
4. The provisions of this section do not apply to an insurer that does not maintain records of the individual holders of a certificate issued under a policy of credit life insurance.


Nev. Admin. Code § 690A.060
Added to NAC by Comm'r of Insurance by R177-03, eff. 12-16-2003

NRS 679B.130

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