686B.1772 - Insurers to adhere to Uniform System of Classifications of Risks and Uniform Plan for Rating Experience; subclassifications for Uniform System of Classification.
686B.1772 Insurers to adhere to Uniform System of Classifications of Risks and Uniform Plan for Rating Experience; subclassifications for Uniform System of Classification.
1. Every insurer shall adhere to the Uniform System of Classifications of Risks and Uniform Plan for Rating Experience filed with the Commissioner by the Advisory Organization.
2. Any insurer may develop a subclassification or subclassifications for the Uniform System of Classification. Any subclassification must be filed with the Commissioner 60 days before it becomes effective. The Commissioner shall disapprove the subclassification if the insurer fails to show the data to be produced by it will be consistent with the Uniform Statistical Plan and System of Classification filed by the Advisory Organization with the Commissioner.
(Added to NRS by 1995, 2051)