Nevada AB318 revises regulations for captive insurers, allowing them to provide industrial insurance and join insurance pools.
Nevada AB318 modifies the requirements for captive insurers to provide industrial insurance. It allows captive insurers to offer industrial insurance if they maintain the required securities. The bill also permits captive insurers to join or financially contribute to an assigned risk pool or insurance insolvency guaranty fund in the state, with benefits contingent on Commissioner authorization. Additionally, it authorizes the Commissioner to require captive insurers providing workers' compensation insurance to join these funds.
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