050. (Added to NRS by 1981, 1321; A 1991, 2034; 1995, 1630) NRS 690B.140 Investments in tangible personal property: Limitation. An insurer who issues policies of insurance for home protection, other than casualty insurance, may make investments in tangible personal property for use in fulfilling its obligations to repair or replace components, systems or appliances of the home under its contracts of insurance for home protection, in an amount not to exceed 35 percent of its assets, as determined pursuant to NRS 681B.010, unless the Commissioner, whenever he deems it appropriate, waives this limitation by regulation. (Added to NRS by 1981, 1322; A 1999, 1448) NRS 690B.150 Annual statement. An insurer who issues policies of insurance for home protection, other than casualty insurance, shall file the annual statement required by NRS 680A.270 in the form prescribed by the commissioner on or before March 1 of each year to cover the preceding calendar year. (Added to NRS by 1981, 1322; A 1991, 2034) NRS 690B.155 Provision requiring binding arbitration authorized; procedures for arbitration. 1. Subject to the approval of the Commissioner, a contract of insurance for home protection may include a provision which requires the parties to the contract to submit for binding arbitration any dispute between the parties concerning any matter directly or indirectly related to, or associated with, the contract. 2. Except as otherwise provided in subsection 3, the arbitration must be conducted pursuant to the rules for commercial arbitration established by the American Arbitration Association. The insurer is responsible for any administrative fees and expenses relating to the arbitration, except that the insurer is not responsible for attorney’s fees and fees for expert witnesses unless those fees are awarded by the arbitrator. 3. If a provision described in subsection 1 is included in a contract of insurance for home protection, the provision shall not be deemed unenforceable as an unreasonable contract of adhesion if the provision is included in compliance with the provisions of subsection 1. (Added to NRS by 1995, 2557) NRS 690B.160 Contracts: Specifications; cancellation; renewal. 1. A contract of insurance for home protection must specify: (a) The structures, components, systems and appliances covered by the provisions of the contract. (b) Any exclusions from and limitations on coverage. (c) The period during which the contract will be in effect, and the renewal terms, if any. (d) The services to be performed by the insurer and the terms and conditions of his performance. (e) The copayment, service fee or deductible charge, if any, to be charged to the insured. (f) All limitations regarding the performance of services, including any restrictions as to the time during or geographical area within which services may be requested or will be performed. (g) That the insurer will commence an investigation of a claim upon a request from the insured by telephone, without any requirement that claim forms or applications be filed before the commencement of the investigation. (h) That, except in an emergency, including, without limitation, the loss of heating, cooling, plumbing or electrical service by the insured, services will be initiated by or under the direction of the insurer within 48 hours after the conclusion of an investigation for a claim. Work must commence on an emergency not later than 24 hours after the report of the claim. The Commissioner may adopt regulations to define “emergency” for the purposes of this paragraph. (i) Other conditions and provisions pertaining to the coverage as required by the insurance laws of this State or regulations adopted by the Commissioner. 2. Insurance for home protection may not be cancelled during the term for which it is issued, except: (a) For nonpayment of the fee for the contract. (b) For fraud or misrepresentation of facts material to the issuance or renewal of the contract. (c) Insurance which provides coverage before the home is sold if the sale is not made. The cancellation must be made in accordance with the contract provisions. 3. Insurance for home protection is not renewable unless its terms provide otherwise. (Added to NRS by 1981, 1322; A 1999, 1448) NRS 690B.170 Contracts: Regulations on content. The Commissioner may adopt reasonable regulations regarding the content of contracts of insurance for home protection to protect the interests of persons affected by the provisions of those contracts. The regulations may not extend to specifying the structures, components, systems or appliances which must be covered by insurance for home protection, except to the extent necessary to: 1. Obtain fairness in the exclusions from the coverage provided; or 2. Avoid illusory coverage caused by the nature or extent of the coverage exclusions. (Added to NRS by 1981, 1323) NRS 690B.175 Regulations. The Commissioner may adopt regulations: 1. Defining administrative expenses for insurers who issue policies of insurance for home protection, and setting limitations on the amounts of such expenses as a percentage of total premiums; and 2. Defining accounting standards to be used for such insurers. (Added to NRS by 1995, 1630) NRS 690B.180 Prohibited acts. An insurer who issues policies of insurance for home protection, other than casualty insurance, shall not: 1. Engage in any other business of insurance or real estate pursuant to chapters 645 to 645E, inclusive, of NRS. 2. Assume reinsurance from any other insurer. (Added to NRS by 1981, 1322; A 1999, 1449) MEDICAL MALPRACTICE NRS 690B.200 Definitions. As used in NRS 690B.200 to 690B.370, inclusive, unless the context otherwise requires, the words and terms defined in NRS 690B.210 to 690B.240, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2003, 921, 3479) NRS 690B.210 “Claims-made policy” defined. “Claims-made policy” means a policy of professional liability insurance that provides coverage only for claims that arise from incidents or events which occur while the policy is in force and which are reported to the insurer while the policy is in force. (Added to NRS by 2003, 921, 3479) NRS 690B.220 “Extended reporting endorsement” defined. “Extended reporting endorsement” means an endorsement to a claims-made policy which requires the payment of a separate premium and which provides coverage for claims that arise from incidents or events which occur while the claims-made policy is in force but which are reported to the insurer after the claims-made policy is terminated. (Added to NRS by 2003, 921, 3479) NRS 690B.230 “Practitioner” defined. “Practitioner” means a practitioner who provides health care. (Added to NRS by 2003, 922, 3479) NRS 690B.240 “Professional liability insurance” defined. “Professional liability insurance” means a policy of insurance covering the liability of a practitioner for a breach of his professional duty toward a patient. (Added to NRS by 2003, 922, 3479) NRS 690B.250 Practitioners of the healing arts: Reports to licensing boards. Except as more is required in NRS 630.3067 and 633.526: 1. Each insurer which issues a policy of insurance covering the liability of a practitioner licensed pursuant to chapters 630 to 640, inclusive, of NRS for a breach of his professional duty toward a patient shall report to the board which licensed the practitioner within 45 days each settlement or award made or judgment rendered by reason of a claim, if the settlement, award or judgment is for more than $5,000, giving the name and address of the claimant and the practitioner and the circumstances of the case. 2. A practitioner l

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