Nevada Revised Statutes 616C.415 – Written explanation of alternative settlements to be given to employee or dependents
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1. Every injured employee, widow, widower or dependent, within the provisions of chapters 616A to 616D, inclusive, of NRS, is entitled to receive from a qualified employee of the insurer an explanation of the various alternatives implicit in lump-sum compensation or other settlement pursuant to those chapters and the long-range effects of a determination made as to one or the other kind of settlement.
Terms Used In Nevada Revised Statutes 616C.415
- Dependent: A person dependent for support upon another.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
2. The insurer shall provide a written explanation of the alternatives pursuant to subsection 1.
3. Upon selecting an alternative, the injured employee, widow, widower or dependent shall provide his or her selection in writing to the insurer.