Article ID: 5925ed715068ca0cfd49d077a1a6ca38bbae8f97c745e5ae53d6b62767aad6a3
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URL: https://www.businessinsurance.com/nevada-approves-21-6-increase-in-comp-loss-costs/
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Nevada approves 21.6% increase in comp loss costs - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Nevada approves 21.6% increase in comp loss costs Workers Comp Coverage Feb 23, 2026 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 periods of strong wage growth,” NCCI Chief Actuary Donna Glenn said in a statement. State data show that both the number and cost of claims have increased and are projected to continue rising into the upcoming filing period. Lost-time claim frequency has leveled off, breaking from its long-term downward decline, driven in part by sustained increases in claims among leisure and hospitality workers. Large loss activity has been concentrated primarily in the construction sector. In addition, strong wage growth across Nevada’s labor market has driven higher benefit costs, contributing to increased overall system expenses. NCCI said a key structural factor is Nevada’s $36,000 annual payroll cap used in premium calculations. Because wage increases raise benefit costs but are not fully reflected in capped premium calculations, loss ratios have come under added pressure. Nevada is currently the only NCCI state that applies a payroll limitation across all class codes. Nevada in 2025 enacted S.B. 317, which increases the payroll cap used in premium calculation. However, the change does not take effect until October 1, and therefore has no impact on the approved filing, NCCI said. 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