Periodic audit of insurers; required standard auditing procedures; information to be shared by Division of Insurance; report to Legislature.
Nev. Rev. Stat. § 616B.003
in effect1. The Administrator shall cause to be conducted at least every 5 years an audit of all insurers who provide benefits to injured employees pursuant to chapters 616A to 616D , inclusive, or chapter 617 of NRS. The Administrator shall cause to be conducted each year on a random basis additional partial audits of any insurer who has a history of violations of the provisions of chapters 616A to 616D , inclusive, or chapter 617 of NRS, or the regulations adopted pursuant thereto, as determined by the Administrator.
2. The Administrator shall require the use of standard auditing procedures and shall establish a manual to describe the standard auditing procedures. The manual must include:
(a) Specific audit objectives;
(b) Standards for documentation;
(c) Policies for supervisory review;
(d) Policies for the training of auditors;
(e) The format for the audit report; and
(f) Procedures for the presentation, distribution and retention of the audit report.
3. The Commissioner and the Administrator shall establish a procedure for sharing information between the Division of Insurance of the Department of Business and Industry and the Division concerning the qualifications of employers as self-insured employers pursuant to NRS 616B.300 or as an association of self-insured public or private employers pursuant to NRS 616B.353 .
4. On or before March 1 of each year, the Administrator shall make a report of each audit to the Legislature, if it is in session, or to the Interim Finance Committee if the Legislature is not in session.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-616B.htmlFetched: 10/4/2026