§ 682A.502 — Reserve requirements

Nevada § 682A.502

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 682A: Investments

Text

Subject to all other limitations and requirements of this chapter, a property and casualty, financial guaranty, mortgage guaranty or accident and health insurer shall maintain an amount not less than 100 percent of adjusted loss reserves and loss adjustment expense reserves, 100 percent of adjusted unearned premium reserves and 100 percent of statutorily required policy and contract reserves in:
1. Cash and cash equivalents;
2. High and medium grade investments that qualify pursuant to NRS 682A.518 and 682A.520 ;
3. Equity interests that qualify pursuant to NRS 682A.522 to 682A.528 , inclusive, and which are traded on a qualified exchange;
4. Investments of the type set forth in NRS 682A.550 to 682A.558 , inclusive, if the investments are rated in the highest generic rating category by a nationally recognized statistical rating organization recognized by the SVO for rating foreign jurisdictions and if any foreign currency exposure is effectively hedged through the maturity date of the investments;
5. Qualifying investments of the type set forth in subsections 2, 3 and 4 that are acquired pursuant to NRS 682A.570 and 682A.572 ;
6. Interest and dividends receivable on qualifying investments of the type set forth in subsections 1 to 5, inclusive; or
7. Reinsurance recoverable on paid losses.

Legislative History

(Added to NRS by 2015, 3448 )