Insurance premium estimates took a big hit from the Economic Forum Friday, more than doubling the total reduction ordered by the forum to this point.
The projections dropped $44.8 million for the coming biennium and a total of $62.3 million when the decrease for the remainder of the current year is added in.
Forum members had to deal with wildly different projections for the coming biennium to settle on an insurance number. While Taxation and LCB Fiscal project increases of more than 4.5 percent for fiscal 2010 and 3 percent in 2011, the budget division projected decreases of 6.1 percent and 7.5 percent respectively.
Member Bill Hartman made the motion to accept gloomy projections for this year and fiscal 2010. But he said he sees the numbers improving significantly in fiscal 2011.
Member John Restrepo argued a 9 percent increase in 2011 was too much. Hartman agreed to a much more conservative 3 percent bump.
The decision brings the running total reduction by the forum thus far to $106.5 million.
Contact reporter Geoff Dornan at gdornan@nevadaappeal.com or 687-8750.