LawInfo

Nevada Insurance FAQs

• What is the Nevada Definition of an Insurance Agent?
  An agent is a natural person, partnership or corporation appointed by an insurer to solicit and negotiate insurance contracts on its behalf, regulated by the Nevada … more
• What are the necessary requirements to become an Agent?
  The following qualifications must be met in order to become an agent in Nevada: 1. You must pay the licensing fee of $140.00 2. A resident producer must take and … more
• What is an Agent?
  An agent is a licensed representative of an insurance company who solicits, negotiates, or effects contracts of insurance and provides service to the policyholder for … more
• What is a Broker?
  A Broker is an individual, partnership or corporation who, for compensation, (not being a licensed agent for the company in which a policy of insurance is placed) acts … more
• What is an Assignment?
  An assignment is the signed authorization by the policyholder for the insurance company to pay benefits directly to the hospital, doctor, or other provider.
• What is a Legal Service Representative?
  A legal service representative is an individual appointed to represent a legal service insurance corporation that has been authorized by MDI to conduct a prepaid legal … more
• What is a Beneficiary?
  A beneficiary is the person designated or provided for by the policy terms to receive the proceeds upon the death of the insured.
• What are Benefits?
  Benefits are the dollar amount payable by the insurance company to the claimant, assignee, or beneficiary under any valid policy.
• What are the different types of coverage on an auto insurance policy in Nevada?
  There are several different types of coverage. 1. Bodily Injury/ Property Damage Liability ­ These coverages protect you if you injure someone else or damage … more
• Questions/Factors Insurers may ask/consider before they offer you a policy:
  1. Driving Record ­ On the application, you will be asked about your previous driving record. Insurers will ask about accidents and traffic violations for any … more

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