Lawmakers probe steep auto-insurance increases as commissioner cites 13.17% spike Insurance Commissioner Ned Gaines told the interim Committee that Nevada saw a 13.17% combined auto-premium increase in 2023 and outlined drivers including parts shortages, higher repair and medical costs, theft and fraud; NCOIL counsel recommended options ranging from personalized auto pools to fraud units.

Nevada's auto insurance rates have skyrocketed by 13.17%, driven by a mix of theft, repair costs, and pandemic fallout, leaving lawmakers scrambling for solutions.

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Insurance commissioner: carriers slow to use wildfire options in AB376; state to convene experts The insurance commissioner told the Commerce and Labor interim committee that, so far, no insurer has used AB376provisions to carve out wildfire coverage and DOI and DBI will convene experts to explore mitigation, market options and catastrophe-bond possibilities.

Nevada's insurance market is at a standstill as no companies have yet utilized new wildfire coverage options, prompting state officials to take action and explore innovative solutions.

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#NV #CitizenPortal #MarketMitigation #WildfireRisk #InsuranceReform #NevadaInsurance

The Nevada Division of Insurance announces the appointment of Ned Gaines as Acting Commissioner, effective July 2, 2025. Read the release: doi.nv.gov #NevadaInsurance

Nevada Division of Insurance What Does the Nevada Division of Insurance Do? If you live in Nevada, you’re covered by insurance in some way—whether it’s your health plan, auto insurance, homeowners coverage, or another type of...

🔎 What does the Nevada Division of Insurance do? We protect Nevada consumers & ensure a stable insurance market. From regulating insurers to helping with claims, see how we serve you!

📖 Learn more: tinyurl.com/WhatDOIDo1

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