Nevada OKs Loss Cost Decrease, Assigned Risk Rate Increase
By: Joyce Famakinwa, Business Insurance, March 2018
Nevada Insurance Commissioner Barbara D. Richardson approved two filings from the National Council on Compensation Insurance, according to a Thursday statement from the Nevada Division of Insurance.
An average decrease of 2.3% for Nevada workers compensation voluntary insurance loss costs and an average increase of 0.2% for Nevada workers comp assigned risk rates took effect March 1, 2018, the division said in a statement.
This filing is based on recent improvements in the workers comp claim experience in Nevada and the slightly increased costs for assigned-risk servicing insurers selected to administer assigned-risk policies effective Jan. 1, 2018, according to the statement.
