Kipper Approves 2.6% Increase in Loss Costs for Voluntary Market

Nevada Insurance Commissioner Scott J. Kipper has approved a 2.6% increase in voluntary market loss costs recommended by the National Council on Compensation Insurance, the Insurance Department announced on Wednesday.Nevada employers who purchase their workers’ compensation insurance in the assigned risk market will see an average increase of 2.5%. Both increases will take effect on March 1, 2013. Employers in the voluntary market will see a premium increase of 1.1% because of other changes to NCCI rating factors. The Insurance Department said the increase is only the second in...