1.  Except in a case of fraud or willful misconduct, a qualified actuary who is appointed by an insurer to issue an opinion pursuant to this chapter or any regulation adopted pursuant thereto is not liable for damages to any person other than an affected insurer or the Commissioner for any act, error, omission, decision or conduct with respect to the actuary’s opinion.

Terms Used In Nevada Revised Statutes 681B.250

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fraud: Intentional deception resulting in injury to another.
  • person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039

2.  Disciplinary action by the Commissioner against an actuary must be prescribed by regulation by the Commissioner.

3.  Except as otherwise provided in NRS 681B.310, the provisions of this section apply only before the operative date of the Valuation Manual.

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