2019 Nevada Revised Statutes
Chapter 686C - Nevada Life and Health Insurance Guaranty Association
NRS 686C.2249 - Assumption of reinsurance contracts: Terms and conditions of contract not affected; exceptions. [Effective January 1, 2020.]
1. Except as otherwise provided in NRS 686C.130 to 686C.226, inclusive, nothing in NRS 686C.224 to 686C.2249, inclusive, shall alter or modify the terms and conditions of any reinsurance contract.
2. Nothing in this section shall:
(a) Abrogate or limit any rights of any reinsurer to claim that it is entitled to rescind a reinsurance contract;
(b) Give a policy or contract owner, certificate holder, enrollee or beneficiary an independent cause of action against a reinsurer that is not otherwise set forth in the reinsurance contract;
(c) Limit or affect the Association’s rights as a creditor of the estate against the assets of the estate; or
(d) Apply to reinsurance agreements covering property or casualty risks.
(Added to NRS by 2015, 3474; A 2019, 1099, effective January 1, 2020)
