Nevada Revised Statutes
Nev. Rev. Stat. § 694C.147 (2026)
“Sponsored captive insurer” defined
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NRS 694C.147 “Sponsored captive insurer” defined. “Sponsored
captive insurer” means any captive insurer:
1. In which the minimum capital and surplus required by applicable law is provided by one or more sponsors;
2. That is formed or licensed pursuant to this chapter;
3. That only insures the risks of its participants through separate participant contracts; and
4. That funds the liability for each participant through one or more protected cells where the assets of each protected cell are segregated from the assets of other protected cells and the assets of the general account of the sponsored captive insurer.
(Added to NRS by 2005, 2148)
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 2020–2022 · leading case: Nat'l World War II Museum, Inc. v. Talisman Cas. Ins. Co., No. 2:19-cv-13279, 2020 WL 563635 (E.D. La. Feb. 5, 2020).
Nat'l World War II Museum, Inc. v. Talisman Cas. Ins. Co., No. 2:19-cv-13279, 2020 WL 563635 (E.D. La. Feb. 5, 2020). “” Nev. Rev. Stat. Ann. § 694C.147. A "participant" is a corporation, association, limited-liability company, partnership, trust, sponsor or other business organization, and any affiliate thereof, that is insured by a sponsored captive insurer, where the losses of the participant…”
E & T Skyline Constr., LLC v. Talisman Cas. Ins. Co., No. 1:19-cv-08069 (S.D.N.Y. Mar. 2, 2022). “” Nev. Rev. Stat. Ann. § 694C.147 (2021). As a sponsored captive insurer, Talisman is comprised of three protected cells, all of which are licensed in Nevada.”
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