686B.17605 - “Prospective loss cost” defined.
686B.17605 “Prospective loss cost” defined. “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)