Ned Gaines (pictured above) has been appointed commissioner of the Nevada Department of Insurance after serving as acting commissioner since July.
Gaines assumed the acting role following the departure of Scott Kipper, who had served as commissioner since 2023 and previously held the position from 2008 to 2010 and from 2011 to 2015.
Gaines joined the Nevada insurance department in April as chief deputy commissioner, according to the Nevada Department of Business and Industry. Before coming to Nevada, Gaines was deputy commissioner of rates, forms and provider networks for the Washington Office of the Insurance Commissioner.
He brings more than 25 years of experience to the position, including 12 years with the Washington state regulator and roles at several national property/casualty carriers as an agent, adjuster, and compliance manager.
“Ned’s extensive experience in the insurance industry and as a regulator will be an asset to the state as we continue to navigate a complex and evolving insurance landscape,” Department of Business and Industry director Kristopher Sanchez said in a statement.
Sanchez also said that Gaines’ leadership and engagement with stakeholders will be key to finding and implementing solutions for all Nevadans.
Gaines steps into the role as Nevada’s insurance sector faces notable challenges. Bodily injury payouts have risen 35% since the start of the pandemic, according to a recent report.
Liability claims for auto and home policies are outpacing coverage limits, leaving some policyholders exposed to out-of-pocket expenses. Common causes for these rising costs include multi-vehicle crashes, dog bite incidents, and injuries to delivery workers on private property.
The state is also part of a broader national discussion about the future of flood insurance. Neptune Research Group has recommended a gradual transition of National Flood Insurance Program (NFIP) policies in Nevada to the private market, citing the NFIP’s growing financial strain.
The proposal would allow current NFIP customers to renew their coverage, while new policies would be directed to private insurers. This transition is intended to reduce taxpayer exposure and foster innovation in flood underwriting, as private insurers are increasingly seen as capable of managing flood risk in Nevada.
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