Nevada § 681B.100 Contingency reserves for insurance of repayment of debt secured by mortgage

Nevada Statutes

§ 681B.100 — Contingency reserves for insurance of repayment of debt secured by mortgage

Nevada § 681B.100

Title 57INSURANCE

Ch. 681BAssets

RESERVE REQUIREMENTS

This text of Nevada § 681B.100 (Contingency reserves for insurance of repayment of debt secured by mortgage) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 681B.100 (2026).

Text

1.Casualty or surety insurers insuring real property mortgage lenders against loss by reason of nonpayment of the mortgage indebtedness by the borrower shall maintain a contingency reserve for the protection of policyholders against the effects of adverse economic cycles.

2.The insurer shall contribute to such contingency reserve 50 percent of net premiums (gross premiums less premiums returned to policyholders) written on such insurance remaining after establishment of the unearned premium reserve.

3.Subject to the Commissioner’s approval, the contingency reserve shall be available for payment of losses only when the insurer’s incurred losses in any 1 calendar year exceed the rate formula expected losses by 10 percent of the related earned premiums.

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1. Casualty or surety insurers insuring real property mortgage lenders against loss by reason of nonpayment of the mortgage indebtedness by the borrower shall maintain a contingency reserve for the protection of policyholders against the effects of adverse economic cycles.
2. The insurer shall contribute to such contingency reserve 50 percent of net premiums (gross premiums less premiums returned to policyholders) written on such insurance remaining after establishment of the unearned premium reserve.
3. Subject to the Commissioner’s approval, the contingency reserve shall be available for payment of losses only when the insurer’s incurred losses in any 1 calendar year exceed the rate formula expected losses by 10 percent of the related earned premiums.