Wednesday, February 10, 2010

Reprint: NU Online News Service, Jan.21, 11:56 a.m. EST

Nevada’s Insurance Commissioner Scott Kipper said he has approved an average decrease of 7.6 percent for workers’ compensation insurance rates.

He also announced a 3.7 percent average decrease for workers’ comp assigned risk rates.

The filing was submitted by the National Council on Compensation Insurance, Inc. (NCCI). The changes are effective March 1, and will apply to risks as of their anniversary rating dates.

Mr. Kipper’s announcement said the reduction, specifically a reduction in loss costs, is based upon Nevada employers’ experience and future projections. NCCI loss cost is only one component of the rates charged by insurers.

Each insurer must file a loss cost multiplier that is used to determine final workers’ compensation rates.

More information regarding the filing, including links to the Assigned Risk Rates and Advisory Loss Costs are on online at the new Property and Casualty Workers’ Compensation section of the Division’s our web site http://doi.nv.gov/spc/workerscomp.aspx.

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6119 Ridgeview CT #500, Reno, NV 89519, 775-284-8200 or kevin@ardentinsurance.com., United States
http://www.ardentinsurance.com College BS in Business Administration (University of Nevada, Reno) 1987. Independent Farmers Insurance Agent 1987-1997; Part time financial sales positions 1997-1999; Co-founder and President of ClientFlex Corporation 1999-2004; Lucini/Parish Insurance 2004-2005; Co-founded (with Tammy Brunson) Ardent Insurance LLC (2005-2007); Changed entity to Ardent Insurance Inc (2006-present). Insurance Designations: LUTCF. Insurance Affiliations: Big I (Independent Insurance Agents of America); Trusted Choice Approved Agency; Professional Insurance Associates, Inc. (Affiliate); Local Business Associations: Northern Nevada Insurance Agents - Member; Community Associations: Northern Nevada Endurance Training - Active Member.