NV AB318

Authorizes captive insurers licensed in Nevada to directly provide workers' compensation insurance, which was not previously permitted under existing law

Grants the Commissioner of Insurance authority to require or authorize captive insurers providing workers' compensation insurance to join or contribute to assigned risk pools or insurance insolvency guaranty funds

Allows captive insurers that contribute to such pools or funds to receive benefits from them for workers' compensation claims, as authorized by the Commissioner

Expands the definition of "private carrier" to explicitly include captive insurers authorized to provide industrial insurance

Creates an alternative pathway for captive insurers to provide industrial insurance by maintaining securities required under Chapter 694C of NRS, rather than only through authorization as a traditional authorized insurer under Chapter 680A