May 9, 2013
CARSON CITY – The 2013 Nevada Insurance Market Report published by the Division of Insurance for the 77th Legislative Session is available online now.
The Report is published every legislative session in order to inform the Legislature of the activities of the Division of Insurance and the state of the insurance market in Nevada.
The Nevada Division of Insurance is a division of the Nevada Department of Business and Industry and regulates Nevada’s $11.2 billion insurance industry, an industry that generates $260 million a year in State General Fund revenue from taxes and fees. There are more than 2,100 insurance companies licensed to do business in Nevada and 118,000 licensed producers and agencies; the Division processes 43,000 license applications and renewals a year.
As the primary consumer protection agency for insurance issues, the Division receives and responds to approximately 25,000 consumer contacts and approximately 1,500 consumer complaints every year. In 2012 the Division assisted in recovering nearly $4 million on behalf of Nevada consumers.
The 2013 Nevada Insurance Market Report can be downloaded directly here.