1.  Any casualty insurer may provide industrial insurance pursuant to the general provisions of chapters 616A to 617, inclusive, of NRS concerning the respective rights and obligations of employees and their employers, if the insurer:

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(a) Has a certificate of authority issued by the Commissioner pursuant to chapter 680A of NRS; and

(b) Is specifically qualified pursuant to paragraph (c) of subsection 1 of NRS 681A.020.

2.  The insurance may be purchased by qualified employers to secure the payment of compensation for employees injured in the course of employment.

3.  The employer shall bear the costs for private insurance.