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The Nevada Division of Insurance is the unbiased authority on insurance in Nevada.
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Facts about the Division of Insurance and Nevada’s Insurance Industry
- The Insurance industry, which is regulated by the Division of Insurance, is the 4th largest source of revenue to the General Fund in the State of Nevada.
- Insurers wrote approximately $22 billion in written premium to Nevada consumers by the end of 2021.
- Nevada's Insurance Premium Tax provided revenue in excess of $495 million to the State's General Fund for Fiscal Year 2022.
- Nevada’s insurance market is comprised of 1,652 licensed domestic and foreign insurers, 147 captive insurers and 135 sponsored captive cells, 92 self-insured employers (“SIEs”), and 7 Associations of Self-Insured Employers (“SIGs”).
Consumer Protection
For Fiscal Years 2021 and 2022 the Consumer Services Section responded to approximately 25,000 consumer inquiries and investigated more than 5,062 consumer complaints regarding the activities of insurance companies, insurance agents, bail agents, title agents, and other regulated entities.
In Fiscal Years 2021 and 2022 the Division recovered $8,834,567 for consumers.
Market & Financial Regulation
- In Fiscal year 2020, the Division participated in 3 multi-state examinations, 11 in Fiscal Year 2021, and 1 in Fiscal Year 2022.
- The Division called 12 market conduct examinations in Fiscal Year 2021 and called 2 market conduct examinations in Fiscal Year 2022.
Active Licensees
As of June 2022, the Producer Licensing Section regulated 233,557 licensees comprised of 218,860 individuals and 14,697 agencies.
- Of those, there were 22,641 individual residents and 196,219 individual non-residents. Agency licensees consisted of 2,015 residents and 12,682 non-resident firms.
The authorized Division staff count for FY 2022 was 88 employees, of which 19 were based in Las Vegas.