Nevada AB376 revises insurance regulations to establish a Regulatory Experimentation Program for Insurance Product Innovation.
Nevada AB376 amends insurance regulations to create the Regulatory Experimentation Program for Insurance Product Innovation. This program allows authorized insurers to test qualified insurance products in Nevada without needing specific authorization or complying with certain regulations. A qualified insurance product is defined as coverage for real property valued at $250,000 or more. Insurers must disclose specific information to consumers before providing these products.
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