2022 Nevada Revised Statutes
Chapter 681A - Kinds of Insurance; Limits on Risk; Reinsurance
NRS 681A.2135 - List of assuming insurers to which cessions are required to be granted credit.

1. The Commissioner shall timely create and publish a list of assuming insurers that have satisfied the conditions set forth in this section and to which cessions must be granted credit in accordance with this section. The Commissioner may add an assuming insurer to the list if a NAIC accredited jurisdiction has added the assuming insurer to a list of such assuming insurers or if, upon initial eligibility, the assuming insurer submits the information to the Commissioner as required under subsection 4 of NRS 681A.211 and complies with any additional requirements that the Commissioner may impose by regulation, except to the extent that the regulations conflict with an applicable covered agreement.

2. If a NAIC accredited jurisdiction has determined that the conditions set forth in NRS 681A.211 to 681A.2125, inclusive, have been met, the Commissioner may defer to that jurisdiction’s determination and add the applicable assuming insurer to the list of assuming insurers to which cessions must be granted credit in accordance with this section. The Commissioner may accept financial documentation filed with another NAIC accredited jurisdiction or with the NAIC for the purpose of satisfying the requirements set forth in NRS 681A.211 to 681A.2125.

3. When requesting that the Commissioner defer to another NAIC accredited jurisdiction’s determination, an assuming insurer must submit a properly executed Form RJ-1 and additional information as the Commissioner may require. If another state has received such a request, notified other states through the NAIC and provided relevant information with respect to the determination of eligibility, the Commissioner may accept such notice and information for the purpose of this section.

(Added to NRS by 2021, 2952)