The mission of the Division of Insurance is twofold: to protect the rights of Nevada consumers in their experiences with the insurance industry and to ensure the financial solvency of insurers. In order to fulfill this mission, the Insurance Commissioner, with the assistance of Division of Insurance staff, will advance a sound regulatory environment that is responsive to the insurance needs in Nevada. The Division of Insurance is the ultimate consumer protection agency on insurance issues.
NEW ASSESSMENTS
Fund for
Insurance Administration and Enforcement
The Fund for Insurance Administration and Enforcement, established by the 2009 Nevada State Legislature through Senate Bill 426, changes the funding of the Division of Insurance to a completely assessment-based structure and eliminates funding from the State’s General Fund. The assessments to fund the Division are placed on those entities which the Division regulates, such as insurers and producers. The full text of the bill is available online through the Nevada State Legislature at
www.leg.state.nv.us/75th2009/Bills/SB/SB426_EN.pdf.
