2022 Nevada Revised Statutes
Chapter 687B - Contracts of Insurance
NRS 687B.350 - Renewal with change in policy or coverage provisions without certain notice to insured prohibited; exceptions.
1. Except as otherwise provided in subsections 2 and 3, an insurer shall not renew a policy if the renewal includes a change in policy or coverage provisions, including a change in rates or premiums charged to the insured, unless the insurer notifies the insured in writing of the change in policy or coverage provisions at least 30 days before the expiration of the policy. If the insurer fails to provide adequate and timely notice, the insurer shall renew the policy using the expiring policy or coverage provisions:
(a) For a period that is equal to the expiring term if the agreed term is 1 year or less; or
(b) For 1 year if the agreed term is more than 1 year.
2. The provisions of this section do not apply to a change in the rate for a policy of industrial insurance which is based on:
(a) A change to a prospective loss cost filed by the Advisory Organization pursuant to NRS 686B.177 that is applicable to the risk; or
(b) A correction based on the experience that is applicable to the risk in accordance with the Uniform Plan for Rating Experience filed with the Commissioner pursuant to NRS 686B.177.
3. The provisions of this section do not apply to a renewal of a policy in which the change in policy or coverage provisions consists only of a:
(a) Decrease in the amount of the total premium charged to the insured for the renewal of the policy;
(b) Change in the effective date and expiration date of the policy if the duration of the renewed policy remains unchanged; or
(c) Change in one or more conditions of the policy that are intended to make an aspect of the coverage provided by the policy more favorable to the insured and is not accompanied by a change in one or more conditions of the policy that are intended to make an aspect of the coverage provided by the policy less favorable to the insured.
(Added to NRS by 1971, 1725; A 1995, 1747; 2003, 3314; 2007, 3322; 2021, 126)
