1. A person shall not act as a broker for reinsurance for a domestic insurer or reinsurer unless the person is: (a) A licensed producer in this state; or (b) Licensed as a nonresident intermediary for reinsurance in this state. 2. A person shall not act as a broker for reinsurance for a foreign or alien insurer or reinsurer if the person maintains an office, directly or as a member or employee of a firm or association or as an officer, director or employee of a corporation in this state, unless the person is: (a) A licensed producer in this state; or (b) Licensed as a nonresident intermediary for reinsurance in this state. 3. A person shall not act as a manager for reinsurance for a domestic insurer or reinsurer unless the person is: (a) A licensed producer in this state; or (b) Licensed as a nonresident manager for reinsurance in this state. 4. A person shall not act as a manager for reinsurance for any foreign or alien insurer or reinsurer if the person maintains an office, directly or as a member or employee of a firm or association or as an officer, director or employee of a corporation in this state, unless the person is: (a) A licensed producer in this state; or (b) Licensed or as a member or employee of a firm or association or as an officer, director or employee of a corporation in this state, unless the person is: (a) A licensed producer in this state; or (b) Licensed as a nonresident manager for reinsurance in this state. 5. A manager for reinsurance shall: (a) File a bond which complies with NRS 679B.175 and is in an amount that is acceptable to the Commissioner for the protection of the reinsurer; and (b) Maintain a policy covering errors and omissions in an amount that is acceptable to the Commissioner. (Added to NRS by 1995, 1761; A 2003, 3286; 2021, 2958)
Nevada Legal Code