Nevada Administrative Code Chapter 683A - Persons Involved in Sale or Administration of Insurance
Nevada Administrative Code (NAC) Chapter 683A governs persons involved in the sale or administration of insurance in the state of Nevada. It supplements the statutory provisions found in NRS Chapter 683A and provides detailed administrative regulations enforced by the Nevada Division of Insurance.
🔹 Key Topics Covered in NAC 683A:
Licensing Requirements
Licensing of producers, brokers, adjusters, and other insurance professionals.
Application procedures, background checks, fingerprinting, and fees.
Continuing education requirements for license renewal.
Examinations
Rules related to prelicensing education, scheduling, conduct, and passing scores.
Time limits and retake policies.
Duties and Responsibilities
Ethical standards and conduct expected from license holders.
Requirements regarding disclosures, recordkeeping, and fiduciary responsibilities.
Appointment and Termination
Procedures for insurance companies to appoint or terminate producers or agents.
Notification requirements and timelines.
Disciplinary Actions
Grounds for license suspension, revocation, or denial.
Administrative procedures for hearings and appeals.
Specialty Licenses
Regulations for limited lines licenses (e.g., travel, credit, rental car insurance).
Special requirements for managing general agents, third-party administrators, etc.
Continuing Education Providers
Approval process for providers and courses.
Course auditing, provider conduct, and credit issuance.
Third-Party Administrators (TPAs)
Licensing and operational requirements for TPAs handling claims and employee benefits.
Reporting and financial responsibility standards.
Fees and Penalties
Schedule of fees for applications, renewals, and administrative actions.
Penalties for noncompliance with continuing education or other requirements.
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