AB 376
Revises provisions relating to insurance. (BDR 57-1009)
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Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a program allowing insurance companies to test new insurance products in Nevada without fully complying with existing regulations. Insurers can apply to participate in the ‘Regulatory Experimentation Program’ for Insurance Product Innovation, which is a 4-year pilot program. The bill also introduces a ‘flex-rated filing’ option for rate increases in certain property insurance lines, streamlining the approval process for insurers. It revises rules for reciprocal and captive insurers, addresses wildfire coverage, and includes provisions for disclosures and record-keeping.
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