The Nevada Division of Insurance has requested that insurers that write workers' compensation insurance in Nevada respond to the following information request no later than Oct. 5, 2012.
For the purpose of rating workers' compensation premium, Nevada employer payroll is capped at $36,000 per employee per policy year. Currently, the National Council on Compensation Insurance, Inc. collects only capped payroll for Nevada exposures. The Nevada Division of Insurance has been exploring whether it is feasible to also collect uncapped payroll.
Collecting both capped and uncapped payroll would facilitate an analysis of the impact of changing or removing the payroll cap and would permit class rates to be appropriately adjusted in the event the payroll cap is ultimately changed or removed. Note that changing or eliminating the payroll cap would require legislation. To the best of our knowledge, no such legislation is in the pipeline.
The DOI would like your company's opinion as to the feasibility of having insurers report both capped and uncapped payroll to the NCCI. Please respond to the following questions:
If you have any questions, please contact Elena Ahrens, Acting Chief, Property & Casualty Section Nevada Division of Insurance, at firstname.lastname@example.org or by phone at (775) 687-0764.
Christian J. Rataj
State Affairs Manager
Posted: Monday, September 10, 2012 10:19:34 AM. Modified: Monday, September 10, 2012 10:22:41 AM.
317.875.5250 - Indianapolis | 202.628.1558 - Washington, D.C.