2022 Nevada Revised Statutes
Chapter 687B - Contracts of Insurance
NRS 687B.884 - Policy form for policy of provider stop-loss insurance: Filing; approval; requirements; accompanying certification.
1. A policy form for a policy of provider stop-loss insurance which is intended for issue in this State must be filed with and approved by the Commissioner pursuant to NRS 687B.120 before being delivered or issued for delivery. In addition to any other applicable requirements, the policy form must satisfy the following requirements:
(a) The policy of provider stop-loss insurance must be issued to and insure the provider of health care or the network which enters into the policy.
(b) Payments by the insurer under the policy of provider stop-loss insurance must be made to the provider of health care or the network which enters into the policy.
(c) The policy of provider stop-loss insurance must provide:
(1) An attachment point per claimant of at least $10,000; and
(2) An aggregate attachment point of at least $100,000 per calendar year.
(d) The policy of provider stop-loss insurance must require that the proof of loss be furnished to the insurer within 90 days after:
(1) The date the loss is incurred; or
(2) Any date provided in the policy which is later than the date the loss is incurred.
2. A policy form filed with the Commissioner for approval as required by subsection 1 must be accompanied by a separate document certifying that each of the requirements specified in paragraphs (a) to (d), inclusive, of subsection 1 have been met.
(Added to NRS by 2021, 2971)
