Nevada § 686B.240 Nevada Essential Insurance Association: Powers of Commissioner and Association

Nevada Statutes

§ 686B.240 — Nevada Essential Insurance Association: Powers of Commissioner and Association

Nevada § 686B.240

Title 57INSURANCE

Ch. 686BRates

Associations

This text of Nevada § 686B.240 (Nevada Essential Insurance Association: Powers of Commissioner and Association) 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. § 686B.240 (2026).

Text

The Commissioner and the Nevada Essential Insurance Association may:

1.Give consideration to the need for adequate and readily accessible coverage, to alternative methods of improving the market affected, to the preferences of the insurers and agents, to the inherent limitations of the insurance mechanism, to the need for reasonable underwriting standards and to the requirement of reasonable loss-prevention measures.

2.Establish procedures that will create minimum interference with the voluntary market.

3.Spread the burden imposed by the facility equitably and efficiently.

4.Establish procedures for applicants and participants to have grievances reviewed.

5.Take all reasonable and necessary steps to dissolve the Association at the earliest date when essential insurance becomes readily

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The Commissioner and the Nevada Essential Insurance Association may:
1. Give consideration to the need for adequate and readily accessible coverage, to alternative methods of improving the market affected, to the preferences of the insurers and agents, to the inherent limitations of the insurance mechanism, to the need for reasonable underwriting standards and to the requirement of reasonable loss-prevention measures.
2. Establish procedures that will create minimum interference with the voluntary market.
3. Spread the burden imposed by the facility equitably and efficiently.
4. Establish procedures for applicants and participants to have grievances reviewed.
5. Take all reasonable and necessary steps to dissolve the Association at the earliest date when essential insurance becomes readily available in the private market. The dissolution of the Association, including its assets and liabilities, must be accomplished under the supervision of the Commissioner in an equitable and reasonable manner. The dissolution must, if determined to be appropriate by the Commissioner, provide for the repayment of any loans or other money provided or contributed by the State of Nevada for the formation or continuance of the Association.