NV| Nevada Division of Insurance Bulletin 25-001 outlines statutory requirements for written agreements between insurers and administrators (third-party administrators) within Nevada, especially for workers’ compensation plans. It clarifies compliance expectations for all parties, emphasizes restrictions on subcontracting, and details updated notification obligations.
Main Points:
- Administrators must have a written agreement with insurers containing required statutory provisions, with each administrator individually party to the agreement—subcontracting to additional administrators is not permitted for workers’ compensation.
- Violations occur if an administrator operates without being a signatory to the insurer agreement, and written notice (approved by the insurer) must be provided to each insured regarding the relationships among insurer, administrator, and insured.
- The Bulletin applies to a broad definition of “insurer” (including carriers, HMOs, MEWAs, self-insured employers, and dental organizations) and clarifies that the required notice must reflect the formal relationships as defined in the agreements.
