Nevada Revised Statutes 691E.230 – Acting as travel retailer without being listed on register of producer of limited lines travel insurance prohibited; conditions under which travel retailer authorized to offer and disseminate travel insurance
1. A person shall not act as a travel retailer unless the person is listed on the register maintained by a producer of limited lines travel insurance pursuant to NRS 691E.220.
Terms Used In Nevada Revised Statutes 691E.230
- 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
2. A travel retailer may offer and disseminate travel insurance under the license of a producer of limited lines travel insurance issued pursuant to NRS 691E.200 if the following conditions are met:
(a) The producer of limited lines travel insurance or travel retailer provides to each purchaser of travel insurance:
(1) A description of the material terms, or the actual material terms, of the travel insurance coverage;
(2) A description of the process for filing a claim;
(3) A description of the review or cancellation process for the policy of travel insurance; and
(4) The identity and contact information of the insurer and the producer of limited lines travel insurance;
(b) The travel retailer is listed on the register maintained by the producer of limited lines travel insurance pursuant to NRS 691E.220;
(c) The producer of limited lines travel insurance has designated a natural person who is employed by the producer of limited lines travel insurance and who is a licensed producer of insurance to be responsible for the compliance of the producer of limited lines travel insurance with the provisions of this title and any rules and regulations adopted pursuant thereto;
(d) The person designated pursuant to paragraph (c), the officers of the producer of limited lines travel insurance and any other person who directs or controls the insurance operations of the producer of limited lines travel insurance have complied with any requirements relating to fingerprinting which are applicable to producers of insurance in the home state of the producer of limited lines travel insurance;
(e) The producer of limited lines travel insurance has paid all licensing fees applicable to a producer of insurance pursuant to chapter 683A of NRS; and
(f) The producer of limited lines travel insurance requires each employee and authorized representative of the travel retailer whose duties include offering and disseminating travel insurance to receive a program of instruction or training.
3. A program of instruction or training described in paragraph (f) of subsection 2 is subject to review and approval by the Commissioner. The training materials provided as part of such a program must, at a minimum, contain adequate instructions on the types of travel insurance offered, ethical sales practices and required disclosures to prospective purchasers.