Insurance Division Says Comp Market Is Stable

Workers’ compensation rates are stable and new carriers continue to enter the market, the Nevada Division of Insurance said in its 2013 analysis of the statewide insurance market.Over the long-term, workers’ compensation rates are decreasing, but a 1% increase in voluntary market loss costs was necessary in 2012 to account for a 1.6% increase in the Medical Fee Schedule that took effect the previous year, the division said. In 2011, the insurance commissioner approved a 3.9% decrease in loss costs. Not mentioned in the report is the fact that Insurance Commissioner Scott J. Kipper ...