Revises provisions relating to insurance. (BDR 57-1009)

- 83rd Session (2025)
Assembly Bill No. 376–Assemblymembers O’Neill,
Gray, Dickman, DeLong; and Gallant

Joint Sponsor: Senator Buck

CHAPTER..........

AN ACT relating to insurance; requiring the Commissioner of
Insurance to establish and administer the Regulatory
Experimentation Program for Insurance Product Innovation;
setting forth requirements for the operation of the Pro gram;
authorizing certain property insurers to file a proposed
increase in a rate for certain lines of insurance through a
program of flex-rated filing; revising requirements relating to
insurance coverage for the peril of wildfire; revising certain
requirements for reciprocal insurers; revising provisions
relating to captive insurers; revising requirements relating to
insurance coverage for common -interest communities; and
providing other matters properly relating thereto.
Legislative Counsel’s Digest:
Existing law requires the Commissioner of Insurance to regulate insurance in
this State and enforce the provisions of the Nevada Insurance Code. (NRS
679B.120) Section 9 of this bill requires the Commissioner to establish and
administer the Regulatory Expe rimentation Program for Insurance Product
Innovation, which is a 4-year program to enable an authorized insurer who offers at
least one insurance product that provides property insurance coverage for real or
personal property located in this State outside of the Program to test a qualified
insurance product in this State without complying with certain provisions of the
Nevada Insurance Code or certain regulations adopted pursuant thereto that would
otherwise be required outside of the Program. Section 7 of this bill defines
“qualified insurance product” to mean an insurance product that provides property
insurance coverage for real or personal property located in this State.
Section 12 of this bill sets forth the process by which an authorized insurer may
apply to participate in the Program. Section 12 requires the application of the
applicant to include, among other information, an explanation of any exemption
from the provisions of the Nevada Insurance Code or the regulations adopted
pursuant thereto that the applicant is requesting. Section 13 of this bill requires the
Commissioner to approve or deny an application within 90 days after the completed
application is received. Section 14 of this bill requires the Commissioner to provide
written notice of the approval or denial of an application . Under section 15 of this
bill, if an application is approved, the qualified insurance product offered or
provided through the Program, with certain exceptions, is exempt from the
provisions of the Nevada Insurance Cod e and the regulations adopted pursuant
thereto for which an exemption was requested in the application to participate in the
Program. Section 15 also limits the period of testing for a qualified insurance
product under the Program to 36 months, with one ex tension of not more than 12
months if approved by the Commissioner.
Section 10 of this bill requires the Commissioner to adopt regulations to carry
out the Program.

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- 83rd Session (2025)
Section 11 of this bill requires certain disclosures to be provided before
providing a consumer a qualified insurance product through the Program.
Section 16 of this bill sets forth certain requirements relating to the retention of
records and reporting by a participant in the Program. Sections 17 and 26 of this
bill set forth certain requirements concerning the confidentiality and disclosure of
records relating to the Program.
Section 18 of this bill requires the Commissioner to submit a report to the
Legislature concerning the Program on or before January 1, 2029.
Sections 19 and 20 of this bill authorize the Commissioner to take certain
actions against a participant in the Program who commits certain violations or
engages in any act or omission that the Commissioner determines is inconsistent
with the health, safety or welfare of consumers or the public generally.
Sections 3-8 of this bill define certain words and terms relating to the Program.
Under existing law, with certain exceptions, insurers and certain rate service
organizations are requir ed to file with the Commissioner all rates and proposed
increases thereto, as well as the forms of policies to which the rates apply,
supplementary rate information and any changes or amendments to the rates.
Existing law requires that such a filing be fil ed not less than 30 days before the
proposed effective date of the filing, with certain exceptions. (NRS 686B.070)
Existing law sets forth procedures by which the Commissioner is required to
approve or disapprove a proposed increase or decrease in a rate f or any kind or line
of insurance, other than certain health plans. (NRS 686B.110)
Sections 20.3 and 21 of this bill provide an alternative method by which
certain insurers may make a filing for a proposed increase in a rate for certain types
of insurance . Section 20. 3 requires the Commissioner to establish a program of
flex-rated filing to allow an insurer that issues certain lines of property insurance to
make a filing for that line of insurance if the pr oposed increase does not exceed
certain thresholds established by the Commissioner and certain other requirements
are met . Section 20. 3 sets forth certain requirements for making a filing for a
proposed increase in a rate to qualify to be filed under the program of flex -rated
filing. If the Commissioner finds, within 15 days after the filing is made, that the
filing fails to meet such requirements, section 20.3 authorizes the Commissioner to
treat the filing in the same manner as other proposed increases in a rate filed outside
the program of flex -rated fi ling. If the Commissioner does not make such a
determination within that time, the filing is deemed to be approved. Section 20.5 of
this bill applies the definitions set forth under existing law governing rate filings to
the provisions of section 20.3. Section 20.7 of this bill excludes property insurance
for business and commercial risks from the provisions of section 20.3.
Section 25.1 of this bill authorizes an insurer that issues a policy of property
insurance to exclude the peril of wildfire from t he coverage provided under the
policy. Section 25.1 additionally authorizes an insurer to issue a policy of property
insurance that solely covers the peril of wildfire.
Existing law sets forth various requirements and restrictions for the operation of
a reciprocal insurer. (Chapter 694B of NRS) Existing law sets forth certain rules
that the Commissioner is required to apply in determining the financial condition of
a reciprocal insurer, including rules concerning the computation of reserves. (NRS
694B.150) Section 25.3 of this bill revises those rules concerning reserves to
require instead that the reserves of a reciprocal insurer be maintained as required by
section 25.2 of this bill. Section 25.2 requires a reciprocal insurer at all times to
maintain an unearned premium reserve in a certain amount and sets forth the
manner in which that amount must be calculated. If, at any time, the amount of the
unearned premium reserve maintained by a reciprocal insurer is less than $100,000,
section 25.2 requires the reciprocal insurer to maintain cash or securities acceptable

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to the Commissioner in an amount that, when added to the amount of the unearned
premium reserve maintained, equals not less than $100,000.
Existing law provides for the licensure and regulation of captive insurers.
(Chapter 694C of NRS) Section 25.5 of this bill removes provisions prohibiting a
captive insurer from directly prov iding homeowners’ insurance coverage. Section
25.5 authorizes an association captive insurer to insure the risks of ind ividual
homeowners who combine into an association for the purpose of procuring
homeowners’ insurance or the risks of individual units’ owners in a common -
interest community so long as the association captive insurer is owned by the
association created by the homeowners or the unit-owners’ association, as
applicable. Sections 25.4 and 25.5 of this bill authorize a sponsored captive insurer
to insure the risks of individual homeowners who elect to become a participant of a
protected cell of a sponsored captive insurer.
Existing law requires a unit -owners’ association in a common -interest
community to maintain certain insurance coverage, including property insurance on
the common elements of the community. Existing law requires such property
insurance for buildings with units divided by certain boundaries to include the units
to the extent reasonably available. (NRS 116.3113) Section 25.6 of this bill
provides that the requirement concerning the inclusion of the units in the property
insurance coverage does not apply to property insurance maintained by an
association which covers the peril of wildfire and which coordinates with or
subrogates individual policies of property insurance maintained by the units ’
owners that cover the peril of wildfire.

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Section 1. Chapter 679B of NRS is hereby amended by adding
thereto the provisions set forth as sections 2 to 20, inclusive, of this
act.
Sec. 2. As used in sections 2 to 20, inclusive, of this act,
unless the context otherwise requires, the words and terms defined
in sections 3 to 8, inclusive, of this act have the meanings ascribed
to them in those sections.
Sec. 3. “Consumer” means any person who purchases a
qualified insurance product.
Sec. 4. (Deleted by amendment.)
Sec. 5. “Participant” means an authorized insu rer whose
application to participate in the Program has been approved by the
Commissioner pursuant to section 14 of this act.
Sec. 6. “Program” means the Regulatory Experimentation
Program for Insurance Product Innovation established and
administered by the Commissioner pursuant to sections 2 to 20,
inclusive, of this act.

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- 83rd Session (2025)
Sec. 7. “Qualified insurance pro duct” means an insurance
product that provides property insurance coverage for real or
personal property located in this State, including, without
limitation, any residential or commercial property.
Sec. 8. “Test” means to offer or provide a qualified
insurance product through the Program.
Sec. 9. The Commissioner shall establish and administer the
Regulatory Experimentation Program for Insurance Product
Innovation to enable an authorized insurer who offers at least one
insurance product that provides property insurance coverage for
real or personal property located in this State outside of the
Program to test a qualified insurance product in this State ,
identified in an application to participate in the Program pursuant
to section 12 of this act, without complying with any provision of
this title or any regulation adopted pursuant thereto except as
otherwise required by the Commissioner pursuant to section 15 or
20 of this act.
Sec. 10. The Commissioner shall adopt such regulations as
he or she deems necessary to carry out the provisions of sections 2
to 20, inclusive, of this act.
Sec. 11. 1. Before providing any qual ified insurance
product to a consumer, a participant or a producer of insurance
providing the qualified insurance product shall disclose to the
consumer:
(a) The name and contact information of the participant;
(b) The registration number applicable to the qualified
insurance product, as issued by the Commissioner pursuant to
section 15 of this act;
(c) The fact that the qualified insurance product may be
exempt from certain provisions of this title and certain regulations
adopted pursuant thereto, exc ept as otherwise required by the
Commissioner pursuant to section 15 or 20 of this act;
(d) The fact that the participant has been approved to provide
the qualified insurance product pursuant to sections 2 to 20,
inclusive, of this act but that the qualified insurance product is not
endorsed or recommended by the Commissioner or any
governmental agency; and
(e) The fact that the qualified insurance product is provided as
part of a test and may be discontinued at or before the end of the
test, with the date on which the test is expected to end.
2. The Commissioner may condition approval of an
application to participate in the Program on, or require at any
time thereafter, the disclosure by a participant of info rmation

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relating to a qualified insurance product in addition to the
disclosures required by subsection 1. The Commissioner shall give
written notice to the participant of any additional disclosures
required pursuant to this subsection.
3. The disclosur es required by subsections 1 and 2, as
applicable, must be clear and conspicuous and must be provided
in English and Spanish. If the qualified insurance product is
provided through an Internet website or mobile application, the
consumer must acknowledge re ceipt of the disclosures before the
completion of any transaction.
Sec. 12. 1. An authorized insurer who desires to participate
in the Program to test a qualified insurance product must submit a
written application in accordance with this section, in the form
prescribed by the Commissioner. A separate application must be
filed for each qualified insurance product proposed for testing.
2. The application must show that the applicant offers at least
one insurance product that provides property insurance coverage
for real or personal property located in this State outside of the
Program and will at all times during the test continue to offer at
least one insurance product that provides property insurance
coverage for real or personal property located in this State outside
of the Program.
3. The application must include:
(a) A description of the qualified insurance product proposed
for testing and an explanation of:
(1) Any exemption from the provisions of this title or the
regulations adopted pursuant thereto that the applicant is
requesting, which must not include any provisi on of this chapter
or chapter 686A of NRS, and a justification for each such
exemption;
(2) Any benefit of the qualified insurance product;
(3) Any risk of harm to consumers associated with the
qualified insurance product; and
(4) The manner in whic h participation in the Program will
facilitate a successful test of the qualified insurance product.
(b) A statement of the proposed plan for testing the qualified
insurance product. The plan:
(1) Must include, without limitation:
(I) An estimate of the dates or periods anticipated for the
test;
(II) The regions and populations of this State that the
applicant will target during the test, including, without limitation,

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any high-risk areas of this State and any underserved regions or
populations;
(III) Measures to protect consumers from harm caused
by a failure of the test; and
(IV) The plan to wind up and terminate the test; and
(2) May provide for the provision of the qualified insurance
product through producers of insurance acting as agen ts and
brokers.
(c) A description of each insurance product the applicant
offers in this State outside of the Program.
(d) Any other information deemed necessary by the
Commissioner.
Sec. 13. 1. The Commissioner may r efuse to consider any
application submitted pursuant to section 12 of this act if the
application does not include the information required by section
12 of this act or any other information deemed necessary by the
Commissioner. The applicant shall provide , within the period
directed by the Commissioner, any additional information
required in connection with the application. If the required
information is not provided, the application may be denied by the
Commissioner as incomplete.
2. Unless the Commissioner and the applicant mutually agree
to extend this period, the Commissioner shall approve or deny an
application within 90 days after the completed application is
received.
Sec. 14. 1. The Commissioner may approve or deny any
application submitted pursuant to section 12 of this act.
2. The Commissioner shall give the applicant written notice
of the approval or denial of the application within 5 business days
after the date of approval or denial.
Sec. 15. 1. If an application to participate in the Program is
approved pursuant to section 14 of this act:
(a) The applicant shall be deemed to be a participant.
(b) The Commissioner shall issue a registration number
unique to the approval.
(c) Except as otherwise required by the Commissioner
pursuant to subsection 2 or section 20 of this act, a qualified
insurance product offered or provided within the scope of the
Program is exempt from any provision of this title or any
regulation adopted pursuant thereto for which an exemption was
requested in the application pursuant to subparagraph (1) of
paragraph (a) of subsection 3 of section 12 of this act. The
qualified insurance product may be offered or provided by

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producers of insurance acting as agents and brokers, in
accordance with the proposed plan for testing the qualified
insurance product provided pursuant to paragraph (b) of
subsection 3 of section 12 of this act.
2. The Commissioner may condition approv al of an
application upon compliance by the participant with one or more
provisions of this title or any regulation adopted pursuant thereto
for which an exemption was requested in the application pursuant
to subparagraph (1) of paragraph (a) of subsection 3 of section 12
of this act.
3. A notice of approval of an application given pursuant to
section 14 of this act must set forth:
(a) The registration number applicable to the approval;
(b) Any conditions imposed pursuant to subsection 2 or section
20 of this act; and
(c) Any additional information required by the Commissioner
to be disclosed to consumers pursuant to subsection 2 of section 11
of this act.
4. Unless a timely request for an extension is made an d
approved pursuant to subsection 5, the period of testing for a
qualified insurance product under the Program ends on a date
determined by the Commissioner which must be not more than 36
months after the notice given pursuant to subsection 3.
5. On or b efore the date on which the period of testing a
qualified insurance product ends, a participant may submit a
request to extend the period of testing for the qualified insurance
product for not more than 12 months. The Commissioner may
approve or deny the r equest, except that only one extension of the
period of testing of a qualified insurance product may be
approved. In determining whether to approve or deny the request,
the Commissioner shall review the request using the same criteria
used to determine whether to approve an application to participate
in the Program, except that the Commissioner shall consider any
data produced by the test ing of the product which has already
been completed.
Sec. 16. 1. The Commissioner may e stablish by regulation
periodic reporting requirements for participants in the Program.
2. On request by the Commissioner, a participant shall make
any requested record, information or data available for inspection
and copying by the Commissioner.
3. Each participant shall retain, for such time as the
Commissioner requires by order or regulation, all records and

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data produced in the ordinary course of business relating to a
qualified insurance product tested in the Program.
4. In addition to provid ing any other disclosure or notice of
the unauthorized acquisition of computerized data required by any
applicable statute or regulation, a participant shall promptly notify
the Commissioner of any unauthorized acquisition of
computerized data constituting a breach of the security of the
system data, as that term is defined in NRS 603A.020.
Sec. 17. 1. Any record or information in a record submitted
to or obtained by the Commissioner pursuant to sections 2 to 20,
inclusive, of this act:
(a) Except as otherwise provided in this section, is confidential
and not a public book or record within the meaning of
NRS 239.010.
(b) May be disclosed by the Commissioner to:
(1) Any governmental agency or official; or
(2) A federa l, state or county grand jury in response to a
lawful subpoena.
2. Any disclosure pursuant to subsection 1 of a complaint
relating to a qualified insurance product or the results of an
examination, inquiry or investigation relating to a participant or
qualified insurance product does not make the relevant record or
information in a record a public record within the meaning of
NRS 239.010 and a participant shall not disclose any such record
or information to the general public except in connection with any
disclosure required by law. A participant shall not disclose, use or
refer to any comments, conclusions or results of an examination,
inquiry or investigation in any communication to a consumer or
potential consumer.
3. The Commissioner is immune from civil liability for any
damages sustained because of a disclosure of any record or
information in a record that is received or obtained pursuant to
sections 2 to 20, inclusive, of this act.
4. Nothing contained in this section shall be deemed to
preclude the disclosure of any record or information in a record
that is admissible in evidence in any civil or criminal proceeding
brought by a state or federal law enforcement agency to enforce or
prosecute a civil or criminal violation of any law.
Sec. 18. 1. The Commissioner shall, on or before
January 1, 2029, submit to the Director of the Legislative Counsel
Bureau, for transmittal to the Legislature, a report on the
operation and results of the Program.
2. The report must include:

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(a) The number of applications submitted to participate in the
Program, and the number of applications that were approved or
denied;
(b) With respect to the applications that were denied, a
description of the reasons for the denial; and
(c) With respect to the applications that were approved:
(1) A description of each qualified insurance product
provided by each participant in the Program;
(2) A statement of the number of participants providing
each qualified insurance product; and
(3) The number of consumers provided a qualified
insurance product.
3. The report may include any other information that the
Commissioner deems relevant.
Sec. 19. If the Commissioner has reasonable cause to believe
that a participant has engaged in, is engaging in or threatens to
engage in any act or omission in violation of any provision of
sections 2 to 20, inclusive, of this act or any other applicable
statute or regulation for which a civil or criminal penalty is
prescribed, the Commissioner may remove the participant from
the Program or order the participant to exit the Program.
Sec. 20. If the Commissioner has reasonable cause to believe
that a participant has engaged in, is engaging in or threatens to
engage in any act or omission that the Commissioner determines
is inconsistent with the health, safety or welfare of consumers or
the public generally, the Commissioner may:
1. Proceed to adopt a regulation to address the issue pursuant
to section 10 of this act;
2. Require the participant to comply with one or more
provisions of this title or any regulation adopted pursuant thereto;
3. Remove the participant from the Progra m or order the
participant to exit the Program; or
4. Take any combination of those actions.
Sec. 20.3. Chapter 686B of NRS is hereby amended by adding
thereto a new section to read as follows:
1. The Commissioner shall establish a program of flex -rated
filing to allow an insurer that issues a line of property insurance
that provides coverage for real property to make a filing for a
proposed increase in a rate for that line of insurance under the
program, in lieu of making a filing pursuant to NRS 686B.070, if
the proposed increase does not exceed either of the flex -rated
filing thresholds established by the Commissioner and all other
requirements of this section are met.

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2. To qualify for filing under the program of flex-rated filing
established pursuant to this section:
(a) The filing must be limited solely to a proposed increase in a
rate and must not contain changes to any supplementary rate
information;
(b) The proposed increase in the rate must not exceed either of
the flex-rated filing thresholds which are in effect at the time the
filing is made;
(c) The proposed increase must not take effect for any existing
policyholder that will be affected by the proposed increase until
the date on which the policy of the policyholder is renewed; and
(d) The date on which the first existing policyholder will be
affected by the proposed increase must be not earlier than 45 days
after the date on which the filing is made.
3. An insurer may not make a filing for a pro posed increase
in a rate under the program of flex -rated filing established
pursuant to this section if:
(a) The cumulative effect of the filing and all other filings filed
by the insurer on the same line of insurance within the 12 months
immediately preceding the proposed effective date of the proposed
increase exceeds either of the flex -rated filing thresholds which
are in effect on the date the filing is made; and
(b) Any policyholder that will be affected by the proposed
increase has been affected by an increase filed under the program
of flex -rated filing within the 12 months immediately preceding
the proposed effective date of the proposed increase.
4. The Commissioner shall review each proposed increase in
a rate filed under the program of flex -rated filing established
pursuant to this section. If the Commissioner, within 15 days after
the date on which the filing is made, finds that a proposed
increase does not comply with the provisions of subsection 2 or 3
or subsection 1 of NRS 686B.050, the Commissioner shall provide
notice to the insurer and subsequently treat the filing as if it w ere
filed pursuant to NRS 686B.070. If the Commissioner has not
provided the notice to the insurer within 15 days after the date on
which the filing is made, the filing shall be deemed to be approved.
5. On or before June 1, 2026, the Commissioner shall
establish the maximum percentage of overall rate impact and the
maximum percentage of individual rate disruption for a filing for
a proposed increase in a rate to qualify for filing under the
program of flex -rated filing established pursuant to this section.
Thereafter, on or before June 1 of any year, the Commissioner
may adjust the flex-rated filing thresholds to take effect on June 1

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of that year. In establishing the initial and adjusted flex -rated
filing thresholds pursuant to this subsection, the Commissioner
shall:
(a) Before establishing the flex -rated filing thresholds, solicit
public input and hold a public hearing on the matter to consider
past and future economic conditions; and
(b) Establish the maximum percentage of overall rate impact
to be a percentage that is not less than 3 percent.
6. For the purposes of this section, the filing of a proposed
increase in a rate under the program of flex -rated filing
established pursuant to this section shall be deemed to be made on
the date on which it is submitted to the Commissioner using the
System for Electronic Rate s and Form s Filing developed and
implemented by the National Association of Insurance
Commissioners or any successor system.
7. The Commissioner may adopt regulations to carry out the
provisions of this section.
8. As used in this section:
(a) “Flex-rated filing threshold” means the maximum
percentage of:
(1) Overall rate impact; and
(2) Individual rate disruption,
 that the Commissioner has established pursuant to subsection 5
for a filing for a proposed increase in a rate to qualify for filing
under the program of flex -rated filing established pursuant to this
section.
(b) “Individual rate disruption” means the largest percentage
increase in the amount of the premiums of any single policyholder
affected by a filing for a proposed increase in a rate that will occur
if the proposed increase becomes effective.
(c) “Overall rate impact ” means the amount, expressed as a
percentage, obtained by dividing the total aggregate amount by
which all premiums for all policyholders affected by a filing for a
proposed increase in a rate will be increased if the proposed
increase becomes effective b y the total aggregate amount of all
premiums for those policyholders on the day immediately
preceding the proposed effective date of the proposed increase.
Sec. 20.5. NRS 686B.020 is hereby amended to read as
follows:
686B.020 As used in NRS 686B.010 to 686B.1799, inclusive,
and section 20.3 of this act, unless the context otherwise requires:
1. “Advisory organization,” except as limited by NRS
686B.1752, means any person or organization which is controlled

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by or composed of two or more insurers and which engages in
activities related to rate making. For the purposes of this subsection,
two or more insurers with common ownership or operating in this
State under common ownership constitute a single insurer. An
advisory organization does not include:
(a) A joint underwriting association;
(b) An actuarial or legal consultant; or
(c) An employee or manager of an insurer.
2. “Market segment” means any line or kind of insurance or, if
it is described in general terms, any subdivision thereof or any class
of risks or combination of classes.
3. “Rate service organization” means any person, other than an
employee of an insurer, who assists insurers in rate making or filing
by:
(a) Collecting, compiling and furnis hing loss or expense
statistics;
(b) Recommending, making or filing rates or supplementary rate
information; or
(c) Advising about rate questions, except as an attorney giving
legal advice.
4. “Supplementary rate information” includes any manual or
plan of rates, statistical plan, classification, rating schedule,
minimum premium, policy fee, rating rule, rule of underwriting
relating to rates and any other information prescribed by regulation
of the Commissioner.
Sec. 20.7. NRS 686B.030 is hereby amended to read as
follows:
686B.030 1. Except as otherwise provided in subsection 2
and NRS 686B.125, the provisions of NRS 686B.010 to 686B.1799,
inclusive, and section 20.3 of this act apply to all kinds and lines of
direct insurance written on risks or operations in this State by any
insurer authorized to do business in this State, except:
(a) Ocean marine insurance;
(b) Contracts issued by fraternal benefit societies;
(c) Life insurance and credit life insurance;
(d) Variable and fixed annuities;
(e) Credit accident and health insurance;
(f) Property insurance for business and commercial risks;
(g) Casualty insurance for business and commercial risks other
than insurance covering the liability of a practitioner licensed
pursuant to chapters 630 to 640, inclusive, of NRS or who holds a
license or limited license issued pursuant to chapter 653 of NRS;
(h) Surety insurance;

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(i) Health insurance offered through a group health plan
maintained by a large employer; and
(j) Credit involuntary unemployment insurance.
2. The exclusions set forth in paragraphs (f) and (g) of
subsection 1 extend only to issues related to the determination or
approval of premium rates.
Sec. 21. NRS 686B.070 is hereby amended to read as follows:
686B.070 1. Every authorized insurer and every rate service
organization licensed under NRS 686B.140 which has been
designated by any insurer for the filing of rates under subsection 2
of NRS 686B.090 shall file with the Commissioner , either
pursuant to this section or, if applicable, pursuant to section 20. 3
of this act, all:
(a) Rates and proposed increases thereto;
(b) Forms of policies to which the rates apply;
(c) Supplementary rate information; and
(d) Changes and amendments thereof,
 made by it for use in this state.
2. A filing made pursuant to this section must include a
proposed effective date and must be filed not less than 30 days
before that proposed effective date, except that a filing for a
proposed increase or decrease in a rate may include a request that
the Commissioner authorize an effective date that is earlier than the
proposed effective date.
3. If an insurer makes a filing for a proposed increase in a rate
for insurance covering the liability of a practitioner licensed
pursuant to chapter 630, 631, 632 or 633 of NRS for a breach of the
practitioner’s professional duty toward a patient, the insurer shall
not include in the filing any component that is directly or indirectly
related to the following:
(a) Capital losses, diminished cash flow from any dividends,
interest or other investment returns, or any other financial loss that
is materially outside of the claims experience of the professional
liability insurance industry, as determined by the Commissioner.
(b) Losses that are the result of any criminal or fraudulent
activities of a director, officer or employee of the insurer.
 If the Commissioner determines that a filing includes any such
component, the Commissioner shall, pursuan t to NRS 686B.110,
disapprove the proposed increase, in whole or in part, to the extent
that the proposed increase relies upon such a component.
4. If an insurer makes a filing for a proposed increase in a rate
for a health benefit plan, as that term is defined in NRS 687B.470,
the filing must include a unified rate review template, a written

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description justifying the rate increase and any rate filing
documentation.
5. As used in this section, “rate filing documentation,” “unified
rate review template” and “written description justifying the rate
increase” have the meanings ascribed in 45 C.F.R.
§ 154.215.
Secs. 22-25. (Deleted by amendment.)
Sec. 25.1. Chapter 691A of NRS is hereby amended by adding
thereto a new section to read as follows:
1. An insurer that issues a policy of property insurance may
exclude the peril of wildfire from the coverage provided under the
policy.
2. An insurer may, subject to any other applicable provisions
of this title, issue a policy of property in surance that solely covers
the peril of wildfire. Such a policy may be offered:
(a) On a standalone basis; or
(b) In coordination with a policy that excludes the peril of
wildfire pursuant to subsection 1.
3. An insurer may use a definition of “wildf ire” in the policy
that varies from the definition set forth in subsection 4 if the
Commissioner has approved the variance.
4. As used in this section, “wildfire” means an unplanned
and uncontrolled fire in an area of combustible vegetation that
originated from outside any residential or commercial property.
Sec. 25.2. Chapter 694B of NRS is hereby amended by adding
thereto a new section to read as follows:
1. Except as otherwise provided in subsection 2, a reciproca l
insurer shall at all times maintain an unearned premium reserve
equal to not less than 50 percent of the net written premiums of
the subscribers on policies that have 1 year or less to run and pro
rata on those for longer periods, except that, as to mari ne and
transportation insurance, the entire amount of premiums on trip
risks not terminated shall be deemed unearned.
2. If, at any time, the amount of the unearned premium
reserve maintained by a reciprocal insurer pursuant to subsection
1 is less than $100,000, the reciprocal insurer shall maintain cash
or securities acceptable to the Commissioner in an amount that,
when added to the amount of the unearned premium reserve
maintained pursuant to subsection 1, equals not less than
$100,000.
3. The amou nt of the bond filed with the Commissioner
pursuant to NRS 694B.100 must be included as part of the

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- 83rd Session (2025)
unearned premium reserve maintained by a reciprocal insurer
pursuant to subsection 1.
4. For the purposes of subsection 1, net written premiums is
determined by subtracting from the sum of the amount of all
premium payments made by the subscribers and the premiums due
from subscribers:
(a) Any amount specifically provided for in the agreements of
the subscribers for expenses, including, without limitation,
reinsurance costs; and
(b) The amount of any fees paid to the attorney of the
reciprocal insurer, only if the power of attorney agreement with
the attorney of the reciprocal insurer contains an explicit
provision requiring the attorney to refund any unea rned
subscribers’ fees on a pro -rata basis for any policy that is
cancelled.
Sec. 25.3. NRS 694B.150 is hereby amended to read as
follows:
694B.150 In determining the financial condition of a reciprocal
insurer the Commissioner shall apply the following rules:
1. The Commissioner shall charge as liabilities the same
reserves as are required of incorporated insurers issuing
nonassessable policies on a reserve basis.
2. The surplus deposits of subscribers shall be allowed as
assets, except that any premium deposits delinquent for 90 days
shall first be charged against such surplus deposit.
3. The surplus deposits of subscribers shall not be charged as a
liability.
4. All premium deposits delinquent less than 90 days shall be
allowed as assets.
5. An assessment levied upon subscribers, and not collected,
shall not be allowed as an asset.
6. The contingent liability of subscribers shall not be allowed
as an asset.
7. [The computation of reserves shall be based upon premium
deposits other than membership fees and without any deduction for
expenses and the compensation of the attorney. ] Reserves must be
maintained as required by section 25.2 of this act.
Sec. 25.4. NRS 694 C.113 is hereby amended to read as
follows:
694C.113 “Participant” means a corporation, association,
limited-liability company, partnership, trust, sponsor or other
business organization, [and] any affiliate thereof, and a homeowner
or a unit -owners’ association, as defined in NRS 116. 011, that is

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- 83rd Session (2025)
insured by a sponsored captive insurer, where the losses of the
participant are limited by a participant contract to the participant’s
pro rata share of the assets of one or more protected cells identified
in such participant contract.
Sec. 25.5. NRS 694C.300 is hereby amended to read as
follows:
694C.300 1. Except as otherwise provided in this section, a
captive insurer licensed pursuant to this chapter may transact any
form of insurance described in NRS 681A.020 to 681A.080,
inclusive.
2. A captive insurer licensed pursuant to this chapter:
(a) Shall not directly provide personal motor vehicle [or
homeowners’] insurance coverage, or any component thereof.
(b) Shall not a ccept or cede reinsurance, except as otherwise
provided in NRS 694C.350.
(c) May provide excess workers’ compensation insurance to its
parent and affiliated companies, unless otherwise prohibited by the
laws of the state in which the insurance is transacted.
(d) May reinsure workers’ compensation insurance provided
pursuant to a program of self -funded insurance of its parent and
affiliated companies if:
(1) The parent or affiliated company which is providing the
self-funded insurance is certified as a s elf-insured employer by the
Commissioner, if the insurance is being transacted in this State; or
(2) The program of self -funded insurance is otherwise
qualified pursuant to, or in compliance with, the laws of the state in
which the insurance is transacted.
3. A pure captive insurer shall not insure any risks other than
those of its parent and affiliated companies or controlled unaffiliated
businesses.
4. [An] Except as otherwise provided in this subsection, an
association captive insurer shall not insure any risks other than those
of the member organizations of its association and the affiliated
companies of the member organizations. An association captive
insurer may insure the risks of individual homeowners who
combine into an association for the pur pose of procuring
homeowners’ insurance or the risks of individual units’ owners in
a common -interest community so long as the association captive
insurer is owned by the association created by the homeowners or
the unit -owners’ association of the common -interest community,
as applicable.
5. A state -chartered risk retention group shall not insure any
risks other than those of the members of its association.

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- 83rd Session (2025)
6. An agency captive insurer shall not insure any risks other
than those of the policies that are placed by or through the insurance
agency or brokerage that owns the captive insurer.
7. A rental captive insurer shall not insure any risks other than
those of the policyholders or associations that have entered into
agreements with the rental captive insurer for the insurance of those
risks. Such agreements must be in a form which has been approved
by the Commissioner.
8. A sponsored captive insurer shall not insure any risks other
than those of its participants. A sponsored captive insurer may
insure the risks of individual homeowners, including, without
limitation, units’ owners in a common -interest community, who
elect to become a participant of a protected cell of a sponsored
captive insurer.
9. As used in this section [, “excess] :
(a) “Common-interest community” has the meaning ascribed
to it in NRS 116.021.
(b) “Excess workers’ compensation insurance” means insurance
in excess of the specified per -incident or aggregate limit, if any,
established by:
[(a)] (1) The Commissioner, if the insurance is being transacted
in this State; or
[(b)] (2) The chief regulatory officer for insurance in the state in
which the insurance is being transacted.
(c) “Unit-owners’ association” has the meaning ascribed to it
in NRS 116.011.
(d) “Unit’s owner ” has the meaning ascribed to it in
NRS 116.095.
Sec. 25.6. NRS 116.3113 is hereby amended to read as
follows:
116.3113 1. Commencing not later than the time of the first
conveyance of a unit to a person other than a declarant, the
association shall maintain, to the extent reasonably available and
subject to reasonable deductibles, all of the following:
(a) Property insurance on the common elements and, in a
planned community, also on property that must become common
elements, insuring against risks of direct physical loss commonly
insured against, which insurance, after application of any
deductibles, must be not less than 80 percent of the actual cash value
of the insured property at the time the insurance is purchas ed and at
each renewal date, exclusive of land, excavations, foundations and
other items normally excluded from property policies.

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- 83rd Session (2025)
(b) Commercial general liability insurance, including insurance
for medical payments, in an amount determined by the executi ve
board but not less than any amount specified in the declaration,
covering all occurrences commonly insured against for bodily injury
and property damage arising out of or in connection with the use,
ownership, or maintenance of the common elements and, in
cooperatives, also of all units.
(c) Crime insurance which includes coverage for dishonest acts
by members of the executive board and the officers, employees,
agents, directors and volunteers of the association and which
extends coverage to any busines s entity that acts as the community
manager of the association and the employees of that entity. Such
insurance may not contain a conviction requirement, and the
minimum amount of the policy must be not less than an amount
equal to 3 months of aggregate as sessments on all units plus reserve
funds or $5,000,000, whichever is less.
(d) Directors and officers insurance that is a nonprofit
organization errors and omissions policy in a minimum aggregate
amount of not less than $1,000,000 naming the association as the
owner and the named insured. The coverage must extend to the
members of the executive board and the officers, employees, agents,
directors and volunteers of the association and to the community
manager of the association and any employees thereof wh ile acting
as agents as insured persons under the policy terms. Coverage must
be subject to the terms listed in the declaration.
2. [In] Except as otherwise provided in subsection 3, in the
case of a building that contains units divided by horizontal
boundaries described in the declaration, or vertical boundaries that
comprise common walls between units, the insurance maintained
under paragraph (a) of subsection 1, to the extent reasonably
available, must include the units, but need not include improvements
and betterments installed by units’ owners.
3. The provisions of subsection 2 do not apply to property
insurance maintained by an association under paragraph (a) of
subsection 1 which covers the peril of wildfire and which
coordinates with or subrogates individual policies of property
insurance maintained by units’ owners that cover the peril of
wildfire. The provisions of this subsection do not relieve an
association from compliance with any other provision of this
chapter.
4. If the insurance described in subsections 1 and 2 is not
reasonably available, the association promptly shall cause notice of
that fact to be given to all units’ owners. The declaration may

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- 83rd Session (2025)
require the association to carry any other insurance, and t he
association may carry any other insurance it considers appropriate to
protect the association or the units’ owners.
[4.] 5. An insurance policy issued to the association does not
prevent a unit’s owner from obtaining insurance for the unit’s
owner’s own benefit.
Sec. 25.7. (Deleted by amendment.)
Sec. 26. NRS 239.010 is hereby amended to read as follows:
239.010 1. Except as otherwise provided in this section and
NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.0397, 41.071, 49.095,
49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030,
62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152,
80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.54 13,
87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345,
88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270,
116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280,
119A.280, 119A.653, 119A.677, 119B.370, 119B.382, 120A.640,
120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730,
127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312,
130.712, 136.050, 159.044, 159A.044, 164.041, 172.075, 172.245,
176.01334, 176.01385, 176.015, 176.0625, 176.09129, 176.156,
176A.630, 178. 39801, 178.4715, 178.5691, 178.5717, 179.495,
179A.070, 179A.165, 179D.160, 180.600, 200.3771, 200.3772,
200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3923,
209.3925, 209.419, 209.429, 209.521, 211A.140, 213.010, 213.040,
213.095, 213.131, 217.105, 2 17.110, 217.464, 217.475, 218A.350,
218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 218G.615,
224.240, 226.462, 226.796, 228.270, 228.450, 228.495, 228.570,
231.069, 231.1285, 231.1473, 232.1369, 233.190, 237.300,
239.0105, 239.0113, 239.014, 239B.026, 2 39B.030, 239B.040,
239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270,
239C.420, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264,
244.335, 247.540, 247.545, 247.550, 247.560, 250.087, 250.130,
250.140, 250.145, 250.150, 268.095, 268.0978, 268. 490, 268.910,
269.174, 271A.105, 281.195, 281.805, 281A.350, 281A.680,
281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 284.4086,
286.110, 286.118, 287.0438, 289.025, 289.080, 289.387, 289.830,
293.4855, 293.5002, 293.503, 293.504, 293.558, 293.5757, 293.870,
293.906, 293.908, 293.909, 293.910, 293B.135, 293D.510, 331.110,
332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593,
338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205,
353A.049, 353A.085, 353A.100, 353C.240, 353D.250, 360.240,
360.247, 360.255, 360.755, 361.044, 361.2242, 361.610, 365.138,

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- 83rd Session (2025)
366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300,
379.0075, 379.008, 379.1495, 385A.830, 385B.100, 387.626,
387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750,
388A.247, 3 88A.249, 391.033, 391.035, 391.0365, 391.120,
391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317,
392.325, 392.327, 392.335, 392.850, 393.045, 394.167, 394.16975,
394.1698, 394.447, 394.460, 394.465, 396.1415, 396.1425, 396.143,
396.159, 396.329 5, 396.405, 396.525, 396.535, 396.9685,
398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153,
414.280, 416.070, 422.2749, 422.305, 422A.342, 422A.350,
425.400, 427A.1236, 427A.872, 427A.940, 432.028, 432.205,
432B.175, 432B.280, 432B.290, 432B.4018, 4 32B.407, 432B.430,
432B.560, 432B.5902, 432C.140, 432C.150, 433.534, 433A.360,
439.4941, 439.4988, 439.5282, 439.840, 439.914, 439A.116,
439A.124, 439B.420, 439B.754, 439B.760, 439B.845, 440.170,
441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735,
442.774, 445A.665, 445B.570, 445B.7773, 449.209, 449.245,
449.4315, 449A.112, 450.140, 450B.188, 450B.805, 453.164,
453.720, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056,
459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407,
463.790, 467.1005, 4 80.535, 480.545, 480.935, 480.940, 481.063,
481.091, 481.093, 482.170, 482.368, 482.5536, 483.340, 483.363,
483.575, 483.659, 483.800, 484A.469, 484B.830, 484B.833,
484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285,
571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110,
598A.420, 599B.090, 603.070, 603A.210, 604A.303, 604A.710,
604D.500, 604D.600, 612.265, 616B.012, 616B.015, 616B.315,
616B.350, 618.341, 618.425, 622.238, 622.310, 623.131, 623A.137,
624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230,
628B.760, 629.043, 629.047, 629.069, 630.133, 630.2671,
630.2672, 630.2673, 630.2687, 630.30665, 630.336, 630A.327,
630A.555, 631.332, 631.368, 632.121, 632.125, 632.3415,
632.3423, 632.405, 633.283, 633.301, 633.427, 633.4715, 633.4716,
633.4717, 633.524, 634.055, 634.1303, 634.214, 634A.169,
634A.185, 634B.730, 635.111, 635.158, 636.262, 636.342, 637.085,
637.145, 637B.192, 637B.288, 638.087, 638.089, 639.183,
639.2485, 639.570, 640.075, 640.152, 640A.185, 640A.220,
640B.405, 640B.73 0, 640C.580, 640C.600, 640C.620, 640C.745,
640C.760, 640D.135, 640D.190, 640E.225, 640E.340, 641.090,
641.221, 641.2215, 641A.191, 641A.217, 641A.262, 641B.170,
641B.281, 641B.282, 641C.455, 641C.760, 641D.260, 641D.320,
642.524, 643.189, 644A.870, 645.180 , 645.625, 645A.050,
645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130,

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- 83rd Session (2025)
645D.135, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947,
648.033, 648.197, 649.065, 649.067, 652.126, 652.228, 653.900,
654.110, 656.105, 657A.510, 661.115, 665.130, 665.13 3, 669.275,
669.285, 669A.310, 670B.680, 671.365, 671.415, 673.450, 673.480,
675.380, 676A.340, 676A.370, 677.243, 678A.470, 678C.710,
678C.800, 679B.122, 679B.124, 679B.152, 679B.159, 679B.190,
679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410,
681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306,
687A.060, 687A.115, 687B.404, 687C.010, 688C.230, 688C.480,
688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536,
692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550,
696C.120, 703 .196, 704B.325, 706.1725, 706A.230, 710.159,
711.600, and section 17 of this act, sections 35, 38 and 41 of
chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391,
Statutes of Nevada 2013 and unless otherwise declared by law to be
confidential, all public books and public records of a governmental
entity must be open at all times during office hours to inspection by
any person, and may be fully copied or an abstract or memorandum
may be prepared from those public books and public records. Any
such copies, abstracts or memoranda may be used to supply the
general public with copies, abstracts or memoranda of the records or
may be used in any other way to the advantage of the governmental
entity or of the general public. This section does not superse de or in
any manner affect the federal laws governing copyrights or enlarge,
diminish or affect in any other manner the rights of a person in any
written book or record which is copyrighted pursuant to federal law.
2. A governmental entity may not reject a book or record
which is copyrighted solely because it is copyrighted.
3. A governmental entity that has legal custody or control of a
public book or record shall not deny a request made pursuant to
subsection 1 to inspect or copy or receive a copy of a public book or
record on the basis that the requested public book or record contains
information that is confidential if the governmental entity can
redact, delete, conceal or separate, including, without limitation,
electronically, the confidential info rmation from the information
included in the public book or record that is not otherwise
confidential.
4. If requested, a governmental entity shall provide a copy of a
public record in an electronic format by means of an electronic
medium. Nothing in this subsection requires a governmental entity
to provide a copy of a public record in an electronic format or by
means of an electronic medium if:
(a) The public record:

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- 83rd Session (2025)
(1) Was not created or prepared in an electronic format; and
(2) Is not available in an electronic format; or
(b) Providing the public record in an electronic format or by
means of an electronic medium would:
(1) Give access to proprietary software; or
(2) Require the production of information that is confidential
and that cannot be redacted, deleted, concealed or separated from
information that is not otherwise confidential.
5. An officer, employee or agent of a governmental entity who
has legal custody or control of a public record:
(a) Shall not refuse to provide a copy of that public record in the
medium that is requested because the officer, employee or agent has
already prepared or would prefer to provide the copy in a different
medium.
(b) Except as otherwise provided in NRS 239.030, shall, upon
request, prepare the cop y of the public record and shall not require
the person who has requested the copy to prepare the copy himself
or herself.
Sec. 27. 1. This section becomes effective upon passage and
approval.
2. Sections 25.4 to 25.7, inclusive, of this act become effective
on July 1, 2025.
3. Sections 1 to 25.3, inclusive, and 26 of this act become
effective:
(a) Upon passage and approval for the purpose of adopting any
regulations and performing any other preparatory administrative
tasks that are necessary to carry out the provisions of this act; and
(b) On January 1, 2026, for all other purposes.
4. Sections 2 to 20, inclusive, and section 26 of this act expire
by limitation on January 1, 2030.

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