This section and NRS 686B.17863 and 686B.17867 apply to any policy of industrial insurance which:

1. 1. Is issued by an insurer which:

   1. (a) Has a rating of less than “A-” from A.M. Best Company, Inc., or a substantially equivalent rating from another rating agency, as determined by the Commissioner; and
   2. (b) Has less than $200,000,000 in surplus, with surplus calculated as the difference between the insurer’s net admitted assets and the insurer’s total liabilities;
2. 2. Contains a large-deductible agreement;
3. 3. Is not issued to a federal, state or local governmental entity; and
4. 4. Is issued for delivery or renewed on or after January 1, 2018.

(Added to NRS by 2017, 2343)