2022 Nevada Revised Statutes
Chapter 683A - Persons Involved in Sale or Administration of Insurance
NRS 683A.0887 - Duty to disclose information relating to identity and relationship among insurer, administrator and insured and amount of premium or charge to insured; duty to disclose to insurer charges, fees and commissions received for provision of administrative services.
1. Each administrator shall advise each insured, by means of a written notice approved by the insurer, of the identity of and relationship among the insurer, administrator and insured.
2. An administrator who seeks to collect premiums or charges shall clearly set forth in writing to the insured the amount of premium or charge set by the insurer for the insurance coverage and the reason for the collection of the premium or charge. Each charge must be set forth separately from the premium.
3. The administrator shall disclose to an insurer, in writing, all charges, fees and commissions the administrator receives in connection with the provision of administrative services for the insurer, including, without limitation, the fees and commissions paid by insurers providing reinsurance or excess of loss insurance.
(Added to NRS by 1977, 732; A 1999, 2796)
