Nevada Revised Statutes 691C.340 – Insurer authorized to use rates established by Commissioner in lieu of filing rates; regulations
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The Commissioner may, by regulation, establish rates that an insurer may use without filing pursuant to NRS 691C.320. In establishing such rates, the Commissioner shall consider and apply the following factors:
Terms Used In Nevada Revised Statutes 691C.340
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
1. Actual and expected loss experience;
2. General and administrative expenses;
3. Loss settlement and adjustment expenses;
4. Reasonable creditor compensation;
5. The manner in which premiums are charged;
6. Other acquisition costs;
7. Reserves;
8. Taxes;
9. Regulatory license fees and fund assessments;
10. Reasonable insurer profit; and
11. Other relevant data consistent with generally accepted actuarial standards.