Pair of Rate Filings Increasing Loss Costs by 2.3%

Nevada Insurance Commissioner Barbara D. Richardson announced Thursday that she approved two rate filings by the National Council on Compensation Insurance with the combined impact of increasing loss costs in the voluntary market by 2.3%, and in the assigned risk market by 4.9%. The first rate filing, which took effect Thursday, decreases loss costs in the voluntary market by 2.3% because of improved claim experience, Richardson said in a press release. The filing also increases assigned risk market loss costs by 0.2% because of slightly increased costs for servicing carriers who wer...