Nevada Life and Health Insurance Regulations
Overview Questions and Answers
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Terms in this set (129)
The Commissioner of Insurance has the power to
Commissioner make and enforce rules and regulations to implement
the insurance laws of Nevada (insurance code).
The Commissioner is responsible for executing the
duties imposed on him by the Insurance Code,
Insurance code
enforcing the provisions of the Code, and conducting
responsibilities
examinations and investigations of all insurance
matters.
The Commissioner may participate in a program that
Counseling the elderly provides counseling to elderly persons concerning
health insurance.
The Commissioner may invoke the aid of the courts
Enforcing the Insurance through any legal process to take action against any
Code person or company that has violated any provision of
the Insurance Code.
If a person willfully engages in the unauthorized
Administrative fine for transaction of insurance, the Commissioner may
unauthorized transaction impose an administrative fine of up to $10,000 for
each act or violation.
The Commissioner shall investigate fraudulent claims
Fighting insurance fraud for benefits under an insurance policy through his
investigators.
, The Commissioner can assess insurance companies
Special investigative
for their share of funds to be placed in a special
account
investigative account used to combat insurance fraud.
The Commissioner must maintain all records relating
Maintenance of records
to the business of insurance.
Most records, including those relating to
Public inspection of investigations, are open for public inspection unless
records the Commissioner determines that releasing them will
harm the person or company investigated.
Records related to the investigation of fraudulent
Confidentiality of claims are confidential and not open for public
fraudulent claims records inspection unless deemed safe by the Commissioner
or ordered by the courts.
One of the most important responsibilities of the
Commissioner is to periodically examine the records
Examinations
of individuals and companies transacting insurance in
Nevada.
The Commissioner must examine the books and
Examination frequency
records of each authorized insurer every 5 years.
The examination determines the financial condition,
Examination criteria ability to meet obligations, and compliance with the
law of the insurer.
Certificate of authority Companies may be examined to determine whether
examination they will be granted a certificate of authority.
A foreign or alien insurer may be examined in
Cooperation with other
cooperation with the insurance supervisory officers of
states
other states.
The Commissioner may accept a report of the
Acceptance of examination of a foreign or alien insurer prepared by
examination reports the division for a foreign insurer's state of domicile, or
an alien insurer's state of entry into the United States.
Overview Questions and Answers
Save
Terms in this set (129)
The Commissioner of Insurance has the power to
Commissioner make and enforce rules and regulations to implement
the insurance laws of Nevada (insurance code).
The Commissioner is responsible for executing the
duties imposed on him by the Insurance Code,
Insurance code
enforcing the provisions of the Code, and conducting
responsibilities
examinations and investigations of all insurance
matters.
The Commissioner may participate in a program that
Counseling the elderly provides counseling to elderly persons concerning
health insurance.
The Commissioner may invoke the aid of the courts
Enforcing the Insurance through any legal process to take action against any
Code person or company that has violated any provision of
the Insurance Code.
If a person willfully engages in the unauthorized
Administrative fine for transaction of insurance, the Commissioner may
unauthorized transaction impose an administrative fine of up to $10,000 for
each act or violation.
The Commissioner shall investigate fraudulent claims
Fighting insurance fraud for benefits under an insurance policy through his
investigators.
, The Commissioner can assess insurance companies
Special investigative
for their share of funds to be placed in a special
account
investigative account used to combat insurance fraud.
The Commissioner must maintain all records relating
Maintenance of records
to the business of insurance.
Most records, including those relating to
Public inspection of investigations, are open for public inspection unless
records the Commissioner determines that releasing them will
harm the person or company investigated.
Records related to the investigation of fraudulent
Confidentiality of claims are confidential and not open for public
fraudulent claims records inspection unless deemed safe by the Commissioner
or ordered by the courts.
One of the most important responsibilities of the
Commissioner is to periodically examine the records
Examinations
of individuals and companies transacting insurance in
Nevada.
The Commissioner must examine the books and
Examination frequency
records of each authorized insurer every 5 years.
The examination determines the financial condition,
Examination criteria ability to meet obligations, and compliance with the
law of the insurer.
Certificate of authority Companies may be examined to determine whether
examination they will be granted a certificate of authority.
A foreign or alien insurer may be examined in
Cooperation with other
cooperation with the insurance supervisory officers of
states
other states.
The Commissioner may accept a report of the
Acceptance of examination of a foreign or alien insurer prepared by
examination reports the division for a foreign insurer's state of domicile, or
an alien insurer's state of entry into the United States.
