Which statement regarding worker's compensation insurance in Nevada is CORRECT?

Worker's compensation insurance in Nevada must comply with state laws and regulations, and it can indeed be purchased from any authorized insurer. This provides employers with options, allowing them to shop for policies that meet their specific needs and budget, rather than being limited to a state fund. This flexibility is essential for businesses to manage their insurance costs and ensure that they have coverage that is appropriate for the particular risks associated with their operations.

The other statements do not accurately reflect the legal requirements or characteristics of worker's compensation insurance in Nevada. For instance, it is not strictly necessary to purchase insurance only from a state fund; many employers can opt for private insurers if those insurers are authorized to provide worker's compensation coverage in Nevada. Additionally, worker's compensation is required for most employers, regardless of size, making it essential for both small and large employers, contrary to the idea that it is only for large employers. Lastly, worker's compensation is generally not optional for registered businesses, as Nevada law requires that most employers carry such insurance to ensure that employees are compensated for work-related injuries or illnesses.