Loss Costs Increasing 21.6%

The Nevada Division of Insurance has approved a 21.6% increase in workers' compensation loss costs, effective March 1, according to the National Council on Compensation Insurance. The change reflects Nevada-specific cost pressures rather than a broader market shift, the NCCI said in a statement. The Nevada Department of Insurance did not respond to requests for comment. “Nevada’s experience is unique, shaped by a combination of elevated large losses, flattening claim frequency, rising claim severity and a payroll limitation that adds pressure on loss ratios during pe...