Nev. Rev. Stat. ch. 686A – Trade Practices and Frauds; Financing of Premiums | Midpage

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Nevada Revised Statutes

Chapter 686A

Nev. Rev. Stat. ch. 686A

Trade Practices and Frauds; Financing of Premiums

686A.010Purpose 686A.015Jurisdiction of Commissioner; Commissioner required to establish program to investigate unfair and deceptive trade practices 686A.020Unfair methods of competition and unfair or deceptive acts or practices prohibited 686A.025Unfair acts and practices: Disclosure of nonpublic personal information in manner contrary to federal law; regulations 686A.027Unfair or deceptive methods, acts or practices: Knowing access or use of contractual discount of provider of health care pursuant to provider network contract without applicable contractual relationship 686A.028Unfair or deceptive methods, acts or practices: Offering or selling policy of travel insurance that could never result in payment of claim; marketing blanket travel insurance as free 686A.030Misrepresentation and false or misleading advertising of policies prohibited 686A.040False, deceptive or misleading information and advertising prohibited 686A.050“Twisting” prohibited 686A.055Use of existence of Nevada Insurance Guaranty Association or Nevada Life and Health Insurance Guaranty Association to induce purchase of or discourage termination of insurance covered by Association prohibited; exception 686A.060Replacement of life insurance: Statements required to be given to policyholder 686A.070Falsification of or knowing omissions in records or falsification of financial statements prohibited; penalty 686A.080Defamatory statement concerning person engaged or proposing to engage in business of insurance prohibited 686A.085Bank prohibited from requiring customers to purchase insurance from parent, subsidiary or affiliate of bank 686A.090Boycott, coercion or intimidation tending to result in unreasonable restraint of or monopoly in business of insurance prohibited 686A.095Cancellation or restriction of agent’s authority based solely on loss ratio experience prohibited in certain circumstances 686A.100Life insurance, annuities and health insurance: Unfair discrimination prohibited 686A.105Life insurance, annuities and health insurance: Discrimination against living organ donor prohibited 686A.110Life insurance, annuities and health insurance: Rebates and other inducements prohibited; exceptions 686A.120Life insurance, annuities and health insurance: Exceptions to provisions limiting discrimination, rebates and use of securities as inducements 686A.130Property, casualty, surety and title insurance: Unfair discrimination and rebates prohibited; exceptions 686A.135Vision care: Prohibited provisions in contract between insurer and provider; insurer required to provide list of reimbursement rates to provider before entering contract; insurer required to disclose in policy pecuniary interest in supplier or provider; prohibited advertisements by insurer related to coverage; provider required to disclose pecuniary interest in supplier; use of in-network source or supplier not prohibited 686A.140Violations concerning rebates and inducements: Penalties; effect 686A.150Using security, advisory board contract or agreement offering or promising profit as inducement prohibited 686A.160Enforcement: Prohibited methods, acts or practices 686A.170Enforcement: Undefined practices 686A.180Service of process upon unauthorized insurers 686A.183Cease and desist orders and penalties for prohibited methods, acts or practices; modification and setting aside of Commissioner’s orders 686A.185Review and finality of Commissioner’s orders 686A.187Penalties for violating cease and desist order 686A.190Interlocking ownership or management; serving as director of competing insurers 686A.200Plan or transaction involving favored agent or insurer prohibited; exception 686A.210Service and processing charges prohibited 686A.220Favored agent or surety for bonds or insurance contracts under public building or construction contract prohibited; exceptions; penalty 686A.230Illegal dealing in premiums; excess charges for insurance; regulations related to fees of broker, consultant or financial planner; written contract for consultation 686A.240Favoritism to groups prohibited; exceptions 686A.250Use of insurance or annuity as inducement for purchase or rental of property or services without separate charge prohibited; exceptions 686A.260Revocation or suspension of license for violation of laws of other state 686A.270Knowledge of insurer of prohibited acts required for violation 686A.280Use of name deceptively implying person is insurer prohibited by person who is not insurer 686A.281Definitions 686A.2815“Insurance fraud” defined 686A.282“Investigative or law enforcement agency” defined 686A.2825“Practitioner” defined 686A.283Reporting requirements; duties of Commissioner and Attorney General; prosecution by district attorney 686A.285Report by insurer of suspicion that loss to insured was caused by other than accidental or natural occurrence 686A.287Provision by insurer of information concerning fraud upon request by Attorney General, Commissioner or certain agencies 686A.289Provision to insurer of information concerning fraud upon completion of investigation or prosecution; confidentiality of information 686A.290Applications for insurance: False or fraudulent statements or representations prohibited; penalties 686A.291Criminal penalty for insurance fraud 686A.292Additional penalties for insurance fraud; payment of expenses of Fraud Control Unit; persons who are victims for purposes of restitution 686A.295Commissioner and Attorney General required to notify agency when person licensed by or registered with agency is convicted of insurance fraud 686A.297Definitions 686A.2971“Covered material” defined 686A.2972“Covered services” defined 686A.2973“Enrollee” defined 686A.2974“Materials” defined 686A.2975“Provider of vision care” defined 686A.2976“Provider of vision insurance” defined 686A.2977“Vision benefit discount plan” defined 686A.2978“Vision benefit plan” defined 686A.2979“Vision care” defined 686A.298Prohibited provisions in contract between provider of vision insurance and provider of vision care; provider of vision insurance required to provide list of reimbursement rates to provider of vision care before entering contract; provider of vision insurance required to disclose pecuniary interest in supplier of materials or provider of vision care; prohibited advertisements by provider of vision insurance related to coverage; provider of vision care required to disclose pecuniary interest in supplier; use of in-network source or supplier not prohibited 686A.2981Prohibited acts by provider of vision insurance 686A.2982Providers of vision insurance prohibited from requiring providers of vision care to participate in other vision benefit plans or vision benefit discount plans of provider of vision insurance 686A.2983Requirements deemed to be included in vision benefit plans, vision benefit discount plans and contracts between provider of vision insurance and provider of vision care 686A.300Delay in payment of claim for damages to motor vehicle after receipt of statement of charges prohibited; settling claim without providing for repair of vehicle permitted; exception 686A.310Unfair practices in settling claims; liability of insurer for damages 686A.313Required coordination by multiple insurers for certain dental claims; denial of claim prohibited; regulations 686A.315Statements required with certain billing and claim forms submitted to insurers; failure to provide statements not defense in prosecution for insurance fraud 686A.325Settlement of third-party liability claims: Written notice of payment to claimant required; effect of failure to serve notice 686A.330Definitions 686A.335Applicability of chapter 696B of NRS 686A.340Engaging in business of company without license prohibited; exception 686A.350Exemptions from requirement of licensing 686A.360Application for license: Form; fees; bond; required documents; provision of material changes to Commissioner 686A.370True name and fictitious name of applicant or licensee; grounds for disapproval of name 686A.380Renewal of license 686A.385Schedule of rates and charges: Required to be filed with Commissioner for approval; filing of changes; inclusion in schedule required for imposition 686A.390Approval of forms 686A.400Records: Maintenance; form of preservation; open to Commissioner 686A.410Examination of company by Commissioner 686A.420Contents of agreement 686A.430Furnishing of completed copy of agreement to insured 686A.440Interest; service charge; prepayment 686A.450Permissible charges: Late payment; returned check; collection costs or attorney’s fees 686A.460Cancellation of insurance policy listed in agreement containing power of attorney enabling cancellation by company 686A.470Return of unearned premium and commission 686A.480Prohibited payments: Membership in motor club; policy of insurance covering accidental death or dismemberment 686A.490No recourse against agent based on insured’s default in payments; limitation on inducements; prohibited acts by company, agent or broker related to submission of agreement 686A.500Disclosure of financial interest required; agent or broker who submits or performs services in connection with agreement prohibited from receiving compensation 686A.510Penalties 686A.520Applicability of other provisions 686A.600Definitions 686A.610“Adverse action” defined 686A.620“Affiliate” defined 686A.630“Consumer credit report” defined 686A.640“Consumer reporting agency” defined 686A.650“Credit information” defined 686A.660“Insurance score” defined 686A.670Applicability 686A.680Consumer credit reports: Uses; limitations 686A.685Insurer that uses credit information to provide reasonable exceptions in certain circumstances 686A.690Reunderwriting or rerating of insured; refund of premium 686A.700Disclosure of use of credit information 686A.710Notice requirements after taking adverse action 686A.720Indemnification of agent by insurer 686A.730Consumer reporting agencies: Prohibitions; exemptions