Consolidated Insurance Programs

BRIAN SANDOVAL Governor Bulletin 14-006 STATE OF NEVADA DEPARTMENT OF BUSINESS AND INDUSTRY DIVISION OF INSURANCE 1818 East College Pkwy., Suite 103 Carson City, Nevada 89706 (775) 687-0700 • Fax (775) 687-0787 Website: doi.nv.gov E-mail: insinfo@doi.nv.gov CONSOLIDATED INSURANCE PROGRAMS BRUCE H. BRESLOW Director SCOTT J. KIPPER Commissioner June 30, 2014 The eligibility requirements for consolidated insurance programs for industrial insurance (workers' compensation construction wrap-ups) are set forth in Nevada Revised Statute (NRS) 616B. 710. The 1999 Legislature set the initial minimum estimated total cost, or base amount, of a construction project needed to qualify to be administered as a consolidated insurance program at $150 million. Pursuant to NRS 616B. 71 0(3 ), on June 30th of each year, the Commissioner is required to adjust the minimum estimated total cost of a construction project to reflect the present value of that amount with respect to the "construction cost index." NRS 616B.710(4)(a) defines the construction cost index as the construction cost index published by Engineering News-Record as a measure of inflation. Effective July 1, 2014, to be eligible for a consolidated insurance program, the estimated total cost of a construction project must be at least $240 million. -~R Commissioner of Insurance