1. 1. The Commissioner shall, by regulation, establish reasonable rates as described in this chapter and in accordance with the standards established in NRS 686B.050 and 686B.060. The rates must be reasonable in relation to the benefits provided and must not be excessive, inadequate or unfairly discriminatory.

2. 2. The Commissioner may, by regulation, establish rates that an insurer may use without filing pursuant to NRS 690A.085. In establishing such rates, the Commissioner shall consider and apply the following factors:

   1. (a) Actual and expected loss experience;
   2. (b) General and administrative expenses;
   3. (c) Loss settlement and adjustment expenses;
   4. (d) Reasonable creditor compensation;
   5. (e) The manner in which premiums are charged;
   6. (f) Other acquisition costs;
   7. (g) Reserves;
   8. (h) Taxes;
   9. (i) Regulatory license fees and fund assessments;
   10. (j) Reasonable insurer profit; and
   11. (k) Other relevant data consistent with generally accepted actuarial standards.

(Added to NRS by 2005, 2142)