689C.287 - Election to act as risk-assuming carrier: Suspension by Commissioner; applicable statutes.
689C.287 Election to act as risk-assuming carrier: Suspension by Commissioner; applicable statutes.
1. The Commissioner may suspend the election of a carrier to act as a risk-assuming carrier if the Commissioner finds that:
(a) The financial condition of the carrier will no longer support the assumption of risk from issuing coverage to small employers in compliance with NRS 689C.156 and 689C.190 without the protection afforded by the Program of Reinsurance;
(b) The carrier has failed to market its health benefit plans fairly to all small employers in this state or in its established geographic service area, as applicable; or
(c) The carrier has failed to provide coverage to eligible small employers as required pursuant to NRS 689C.156 and 689C.190.
2. A carrier that elects to be a risk-assuming carrier is subject to:
(a) The provisions of NRS 689C.156, relating to the availability of coverage; and
(b) The provisions of NRS 689C.260, relating to classes of businesses.
(Added to NRS by 1997, 2923)