Nev. Admin. Code § 680A.222 - Variables allowed in determination process
To determine the financial condition of an insurer for the purposes of NAC 680A.220 to 680A.226, inclusive, the Commissioner may, if he or she deems it appropriate:
1. Disregard
any credit or amount receivable resulting from the transactions of the insurer
with a reinsurer which is insolvent, impaired or otherwise subject to a
delinquency proceeding;
2.
Consistent with the Accounting Practices and Procedures Manual
of the National Association of Insurance Commissioners, which has been adopted
by reference in NAC 679B.033, make an appropriate adjustment, including a
disallowance, to the value of the insurer's assets which are attributable to
the insurer's investments in or transactions with any parent, subsidiary or
affiliate of the insurer;
3. Refuse
to recognize the stated value of the accounts receivable of the insurer if the
ability of the insurer to collect those accounts is highly speculative in view
of the age of the account or the financial condition of the debtor;
or
4. Increase the insurer's
liability in an amount equal to any contingent liability, pledge or guaranty
not otherwise included in the annual statements or financial statements of the
insurer if there is a substantial risk that the insurer will be called upon to
meet the liability, pledge or guaranty undertaken within the following 12-month
period.
Notes
NRS 679B.130, 680A.205
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