Nevada: premium trust account rules
What Nevada requires of insurance producers holding premium funds, and what happens when those funds are diverted.
Citation
§§ 683A.400; 683A.451; 683A.490
Source chart last reviewed this jurisdiction: 2/25
What the jurisdiction requires
All funds received by any person in any way licensed or acting as an insurance agent shall be held in fiduciary capacity.
Penalties for diversion
Diversion of funds is embezzlement. The commissioner may refuse to issue a new license, place on probation, suspend, revoke or refuse to renew license, impose an administrative fine, or any of the above combinations for misappropriating, converting or improperly withholding money received during the course of the business. The person is also guilty of a misdemeanor.
This reference is not legal advice. Citations and summaries are transcribed from the NAIC's Fiduciary Responsibilities—Premiums chart (Spring 2025) and reflect that chart's own review dates, which vary by jurisdiction. Statutes change, and the chart may lag the current code. Confirm the current text of any provision with the jurisdiction's insurance department or your own counsel before relying on it.
Tie out a Nevada trust account
Tie your premium trust account out three ways — bank, ledger and what you owe — with Nevada's cited rule beside the worksheet. Runs in your browser; nothing is uploaded.
Trust account reconciliation worksheetKeep your trust account provably in balance
Policy Balance Hub tracks premium held in trust against what you owe each carrier, so the reconciliation an examiner asks for already exists.