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Glossary Check: Nevada ‘Annual Expenditures for Claims’

08 Mar, 2024 Frank Ferreri

las vegas 1620961 640
                               

Reno, NV (WorkersCompensation.com) -- In Nevada, the meaning of "annual expenditures for claims" comes from a state statute, and is as follows:

1. For assessments for fiscal years before fiscal year 1999-2000, the total amount of money actually paid for compensation in a fiscal year, including those costs of claims covered under a policy of reinsurance or a policy of excess insurance, by or on behalf of an insurer, reduced by any amount received from subrogation and reimbursement from the Subsequent Injury Account of the insurer.

2. For assessments for fiscal year 1999-2000 and for each subsequent fiscal year, the total amount of money actually paid for compensation in a fiscal year for injuries occurring on or after July 1, 1999, including those costs of claims covered under a policy of reinsurance or a policy of excess insurance, by an insurer or its third-party administrator, reduced by any amount received from

(a) Subrogation;

(b) Reimbursement from the Subsequent Injury Account of the insurer

(c) Reimbursement for increases in compensation for a permanent total disability; and

(d) Reimbursement from the Fund for Workers’ Compensation and Safety for increases in death benefits.

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    About The Author

    • Frank Ferreri

      Frank Ferreri, M.A., J.D. covers workers' compensation legal issues. He has published books, articles, and other material on multiple areas of employment, insurance, and disability law. Frank received his master's degree from the University of South Florida and juris doctor from the University of Florida Levin College of Law. Frank encourages everyone to consider helping out the Kind Souls Foundation and Kids' Chance of America.

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