Nevada SB92 allows insurers to implement proposed rate changes pending approval or disapproval by the Commissioner of Insurance.
Nevada SB92 modifies the process for approving or disapproving rate changes for certain kinds and lines of insurance. The bill allows insurers to implement proposed rate changes while the Commissioner of Insurance reviews the proposal. If the Commissioner disapproves the proposal, the insurer must stop using the new rate. The bill also outlines procedures for reconsideration and hearings if a proposal is disapproved. The changes become effective on July 1, 2025.
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