NRS686B.17605. “Prospective loss cost” defined.

Latest version.

“Prospective loss cost” means the portion of a rate that is based on historical aggregate losses and loss adjustment expenses which are adjusted to their ultimate value and projected to a future point in time. Except as otherwise provided in this section, the term does not include provisions for expenses or profit.

(Added to NRS by 1999, 2219)

                    
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