July 29, 2014
Medical Protective Co., which provides malpractice insurance for 200 doctors located mainly in southern Nevada, has filed for a 24 percent rate increase.
The state Insurance Division says MedPro wants the increase to take effect July 1. It would be atop a 63 percent increase the company got in mid-2002, not long after MedPro started offering policies in the state.
The state agency also received a proposal from State Farm Fire and Casualty Co. for a 4.5 percent decrease in home insurance policies.
State Farm has about 85,000 homes insured in Nevada. The reduction would be accomplished by a change in discounts for auto-home coverage offered by the company.