‘Contractual liability insurance policy’ means a policy of insurance that is issued to a provider to either:

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Terms Used In Nevada Revised Statutes 690C.040

  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

1.  Reimburse the provider under the terms of a service contract issued or sold by the provider; or

2.  If the provider does not satisfy his or her obligation under a service contract, pay on behalf of the provider any money the provider has an obligation to pay under the service contract.