Nevada Statutes & Regulations for Property & Casualty (SOLVED)

If the commissioner fails to approve or disprove a proposed rate within 90 days, the proposed rate within 90 days, the considered? correct answers Approved If the insurer offers to to renew the policy on different terms, how long dose the policyholder have to cancel the policy have to cancel the policy without being penalized? correct answers 30 Days after receiving notice of the change A person employed by an insurance company to instigate claims of physical damage to insured motor vehicles is? correct answers A motor vehicle physical damage appraiser A non admitted insurer who provide ins. coverage that we not available from an admitted insurer is called? correct answers Surplus lines insurer The effective period of a binder may be extended 30 days at this time with written approval of? correct answers The commissioner What is the maximum time a binder can be effective without approval by the commissioner? correct answers 90 Days When are copies of a written binder delivered to the insured & insurer? correct answers Within 24 hour after the blinder becomes effective How soon after receiving a statement of changes for completed repairs must an insurer must an insurer issues a check payable to the garage or jointly to the insured & garaged? correct answers Within 30 Days Surplus Lines ins. usually involves ins. for which types of individuals? correct answers High-risk individuals If an insurer intends not to renew a commercial policy, how much notice must it give the policyholder? correct answers 60 Days before the expiration of the policy An insurer cannot making payments for any claims involving damage to a motor vehicle after receiving? correct answers A statement of change from any garage perviously auth. to perform the repairs required by that claim If one rate, when compared with another in the same class, clearly fails to reflect equitably the differences in expedited losses & expenses, it is considered? correct answers Unfairly discriminatory A person who acts as a motor vehicle physical damage appraiser without a licences is subject to an administrative fine of? correct answers Not more than $1,000 for each violation