NCCI Circular Addresses New Reporting Requirements for Large-Deductible Policies

Wednesday, June 27, 2018 | 0

The National Council on Compensation Insurance has issued a circular explaining new reporting requirements for large-deductible policies in Nevada that go into effect Sunday.

The Nevada Division of Industrial Relations is requiring carriers to report large-deductible policies in which the policyholder takes on liability for at least $25,000 in costs per claim.

NCCI said data reported to the DIR must include losses subject to deductibles, the basis of how deductibles are calculated and the deductible amount per claim.

The NCCI circular identifies codes for carriers to use when reporting losses subject to deductible credit and the basis of deductible calculations.

The circular is here.