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Nevada (NV)

 

Annuity Information

The Nevada Divion of Insurance

The Insurance Division is charged with protecting the rights of the consumer and the public’s interest in dealing with the insurance industry and is responsible for regulating the insurance industry.

It sets ethical and financial standards for insurance companies and review rates. The division responds to and assists consumers.

It reviews insurance policies to ensure compliance with Nevada insurance laws and regulations. The division licenses insurance companies, insurance agents and producers.

It makes sure insurance companies are solvent and have the ability to pay claims. It also makes sure companies follow through on the promises made to consumers through insurance policies. The division also reviews programs operated by self-insured employers for worker’s compensation.

 

Their Stated Mission is 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 its mission, the division will advance a sound regulatory environment that is responsive to the insurance needs of Nevada.

 

Barbara Richardson is Nevada's Insurance Commisioner. Prior to assuming the role of Nevada Insurance Commissioner, Barbara had been the NH Insurance Department’s Director of Operations and Fraud for 12 years.  She oversaw several units of the Department, including the Premium and RetalitoryTax unit, the Criminal Fraud investigation unit, the Business unit and the Producer Licensing unit.  Barbara is a graduate of Vassar College and has a law degree from the University of New Hampshire School of Law and a MBA from Loyola University in Chicago.  She has been an active member on the national level of the NAIC's Producer Licensing Task Force, the Producer Licensing Working group and the Antifraud Task Force.   In addition to these duties, Barbara was an adjunct professor at the University of New Hampshire School of Law teaching Insurance law.

Nevada Annuity Resources: The Consumer Services Section of the Nevada Division of Insurance protects Nevada consumers through enforcement of Title 57 of the Nevada Revised Statutes pertaining to insurance. The Section responds to approximately 25,000 consumer inquiries per year regarding the activities of insurance companies, insurance agents, bail agents, title agents, and other regulated entities. Through consumer advocacy and compliance investigations, the Consumer Services Section recovers millions of dollars for Nevada consumers each year.

In addition to being the primary consumer protection agency for the business of insurance in the state, Consumer Services is also responsible for providing the public with insurance information and assistance through educational materials and public liaison efforts.

 

Capital: Carson City
State Commissioner: Barbara Richardson
Insurance Hotline: (888) 872-3234
Annuity Guarantee Limit: $100,000
Website: http://doi.nv.gov/Consumers/Life-Insurance/
Guarantee Assoc: http://www.nvlifega.org/
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