Nevada Revised Statutes 687B.185 – Binders: Prohibition of use to lower premiums
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An insurer may not use a binder as a means to lower a premium which an insured is charged.
Terms Used In Nevada Revised Statutes 687B.185
- binder: means an oral or written contract for temporary insurance which is used when a policy is not immediately issued to evidence that the coverage attaches at a specified time and continues until the policy is issued or the risk is declined. See Nevada Revised Statutes 687B.015