NV SB345

All members of self-insured employer associations must perform related activities in a given industry, and board of trustees members must be officers or managerial employees of member employers rather than allowing outside administrators to serve

Associations are prohibited from declaring or distributing dividends to members; excess assets may only be used to reduce annual assessments paid by members

Excess insurance policies must have a self-insured retention of at least $250,000, and the association administrator's bond minimum is increased to $2,000,000

Existing certificates for self-insured employer associations in effect on October 1, 2025 expire on October 1, 2026, requiring associations to apply for and obtain new certificates to continue operating

The Commissioner of Insurance gains expanded enforcement authority to issue cease and desist orders and impose fines up to $10,000 per violation against association boards of trustees, administrators, and third-party administrators