Nevada insurance commissioner warns of rising homeowners and auto premiums; urges wildfire mitigation and consumer outreach

Scott Kipper, Nevada Insurance Commissioner, told the Washoe County Board of County Commissioners on March 18 that rising claims from natural disasters and higher reinsurance costs are pushing homeowners and auto insurance premiums up and that some carriers are limiting the number of policies they will write.

Kipper said the Nevada Division of Insurance’s mission is to protect consumers’ rights and make sure carriers remain solvent. “Our mission is … to protect the rights of Nevada consumers and their experiences with the insurance industry, but also to make sure that we maintain company solvency so that insurance companies have the wherewithal and the resources to pay on the claims that consumers make to them,” he said.

He told commissioners that the division regulates roughly $30 billion in premiums in Nevada, oversees about 1,500 authorized insurers and roughly 265,000 licensed producers. The state collected more than $600 million in premium taxes last year, Kipper said, and the division’s interventions in 2024 returned about $9.4 million to consumers.

Why it matters: rising premiums affect household budgets and the county’s housing affordability efforts. Commissioners asked how the county should help residents who are denied or nonrenewed for homeowners insurance and where to send people seeking assistance.

Kipper said the division is building consumer tools and outreach. “If an insured in this state has been denied or nonrenewed, they can go to our site, find the page, plug in their zip code, and it will drop down a list of all insurers who have indicated that they are still writing in that zip code, as well as the contact information,” he said. He also said the division plans a public outreach program on wildfire preparation, including home inventories and mitigation tips, to be rolled out in late spring or early summer.

Kipper emphasized that climate-driven losses — wildfires, hurricanes, storms and floods — are increasing insurers’ claim costs, and that carriers buy global reinsurance to protect against catastrophic losses. As reinsurance becomes more expensive, carriers pass costs to consumers. “Those rates will start, and continue to increase to keep up with them, to be able to manage the risk and to pay those expensive claims,” he said.

Commissioners and Kipper discussed specific issues for Northern Nevada: wildfire risk, limited insurer participation for condominiums and HOAs (lines for which the division does not exercise rate oversight), and potential mitigation grants. Kipper cited examples from other states that grant homeowners funds for hardening homes — for example, Alabama programs that provide up to $10,000 for mitigation — and said states and Congress are considering similar programs.

Kipper told the board the division is available for referrals and consumer assistance. “We do have a trained staff of consumer affairs specialists who are able to answer most questions,” he said, directing residents to DOI.nv.gov for contact information and the insurer lookup tool.

Ending: Commissioners said they will work with the division on ways to route information to county residents and to consider local mitigation efforts that could reduce insurance exposure and costs.