Nevada Revised Statutes 691C.220 – ‘Reverse competition’ defined
Current as of: 2023 | Check for updates
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‘Reverse competition’ means competition among insurers that regularly takes the form of insurers competing for the favor of a person who controls or may control the placement of insurance with insurers that tends to increase insurance premiums or prevents a decrease in insurance premiums in order to give greater compensation to a person who controls or may control the placement of insurance with insurers.
Terms Used In Nevada Revised Statutes 691C.220
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039