Nevada insurance rates cut

Friday, Nov. 7, 2003 | 9:46 a.m.

Workers' compensation rates in Nevada will see an average decrease of 12.3 percent beginning in January.

Nevada Insurance Commissioner Alice Molasky-Arman on Wednesday approved the decrease proposed by the National Council on Compensation Insurance. The council originally proposed a 16.4 percent decrease but made the adjustment based on uncertainties over projected losses.

Employers who can't find insurance and are placed in the "assigned rate category" should see an average decrease of 9.1 percent.

Employers Insurance Company of Nevada, the leading writer of worker' compensation policies in the state, said most policy holders in Nevada will see a decrease in rates.

Molasky-Arman said some employers could still face increases based on their history of workplace injuries.

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