December 15, 2017

WorkCompRecap: Increase Indicated!

Today’s issue of WorkCompRecap features the Nevada Division of Insurance’s recent announcement that it had approved NCCI’s filing for an average increase of 3.2% for Nevada workers’ compensation voluntary insurance loss costs. Employers who purchase in the assigned-risk market will see an average increase of 3.3%, with both increases effective March 1.

The Division noted that while loss costs and assigned-risk rates will increase on average in 2014, the state’s overall workers’ comp market has been stable and competitive, and has shown a 19.2% decrease in voluntary loss costs since 2008, and a 20.1% decrease in rates for the assigned-risk market.

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