Nevada Insurance Commissioner Alice A. Molasky-Arman has approved a 4.2 percent professional liability rate increase for the Nurse Practitioner program underwritten by American Casualty Company of Reading, Pa.; a CNA company.
The rate change is justified by the company’s experience countrywide (excluding Florida and Texas which have had significantly worse than average losses) for this program. The 4.2 percent increase is significantly less than the indication and was selected so that the company remains competitive and minimizes disruption to its policyholders.
The company’s last rate change was +12.6. This change was approved by the Division of Insurance June 3, 2002. The company delayed implementation of this change and will be implementing it concurrently with the +4.2 percent change effective Dec. 1,
2002 for new and renewal business.
The company currently insures 79 nurse practitioners in Nevada.
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