The licensed surplus lines broker who is first engaged by or on behalf of an applicant for insurance may charge a fee for procuring surplus lines coverage. Except as otherwise provided by agreement between the insurer and that broker, the sum of the fee and any other commissions, fees and charges payable to that broker must not exceed 20 percent of the premium paid by the insured.
NRS 685A.155
Broker authorized to charge fee for procuring coverage; maximum amount of fee
Known as the Nonadmitted Insurance Law
The act spans §§ 685–685 (41 sections).
(Added to NRS by 1987, 1149; A 2017, 4002; 2019, 1704)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.