NV| The Nevada Surplus Lines Association (NSLA), in coordination with the Nevada Division of Insurance, has modernized the process for documenting declinations from admitted insurers. This enhancement preserves the consumer protections established under NAC 685.215 (Conditions for Placement) while streamlining compliance requirements for surplus lines brokers.
- Effective immediately, for all new policies requiring declination documentation, brokers will satisfy this requirement by selecting either Statement 1 or Statement 2 on the Nevada SLIP Policy Details page.
- Upon submission of the filing, and in accordance with NRS 685A.050 (Broker’s Report), the broker’s report will reflect the selected statement as part of the official record maintained by the broker. This updated process eliminates the need for separate declination entries while ensuring continued compliance with Nevada statutory and regulatory standards.
NSLA will continue to monitor implementation and provide additional guidance as needed.
Click here to Download the NSLA Updated Diligent Search Statement