Insurer offering to issue claims-made policy required to offer extended reporting endorsement to certain practitioners; disclosure of formula used to determine premium.

Nev. Rev. Stat. § 690B.290
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
If an insurer offers to issue a claims-made policy to a practitioner licensed pursuant to chapter 630, 631, 632 or 633 of NRS, the insurer shall: 1. Offer to issue an extended reporting endorsement to the practitioner; and 2. Disclose to the practitioner the cost formula that the insurer uses to determine the premium for the extended reporting endorsement. The cost formula must be based on: (a) An amount that is not more than twice the amount of the premium for the claims-made policy at the time of the termination of that policy; and (b) The rates filed by the insurer and approved by the Commissioner.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-690B.htmlFetched: 10/4/2026

Starting a business in Nevada? Nevada LLC guide: costs and requirements