Requirements Insurance Companies Must Adhere to [infographic]
Nevada law prohibits insurance companies from engaging in unfair practices that are designed to deny coverage for legitimate claims. Companies that violate Nevada law in this regard may be held liable for damages including interest, the cost of the claim, attorney’s fees, and other expenses stemming from the denial of coverage. (Article continues below Infographic) Unfair Claims Settlement Practices Act The Unfair Claims Settlement Practices Act prohibits insurance companies from taking actions to unduly deny coverage to an insured party. These include: Misrepresenting Pertinent Policy Facts or Provisions [...]
How to Know When an Insurer Acts in Bad Faith
One of the first steps in protecting an individual’s rights as an insured consumer is to recognize the signs of an insurance company’s bad faith acts. Nobody deserves to be left without the support of their insurance company when tragedy strikes, but it is all too common for victims to get the run around as insurance companies act in bad faith. Fortunately, consumers can avoid becoming victims of bad faith practices by familiarizing themselves with unscrupulous acts and the tactics commonly used to achieve them. What is Insurance [...]
The Duty to Defend in Nevada [infographic]
Insurer’s Duty to Defend In Nevada, an insurer’s duty to defend begins upon receiving notice of a claim and continues until the claim is resolved. This duty is broad and is intended to protect insured parties not only for the claims which they are liable but also for the claims which they may be found liable. (Article continues below Infographic) ______ However, this duty is not unlimited. It depends on the types of risks that are covered and identified within the policy. Insured parties need only show that [...]
Overview of Auto Insurance Laws in Nevada [infographic]
Nevada requires that all motor vehicle owner maintain an auto insurance policy that carries minimum coverage. Failure to maintain such a policy could result in a misdemeanor conviction. (Article continues below Infographic) Insurance Requirements Nevada requires all Nevada-registered vehicles to maintain an automobile insurance policy from a duly authorized seller. The policy is necessary to maintain the following minimum coverage levels: $15,000 of liability coverage for bodily injury or death of one person in any one crash;$30,000 of liability coverage for bodily injury or death of any two [...]
What Is Bad Faith in Insurance? [infographic]
Under Nevada law, insurance companies have a duty to act in good faith and deal fairly with the entities and individuals they insure. Failure to do so is considered bad faith and may leave the insurer open to legal action. So what is bad faith in insurance? (Article continues below Infographic) Insurance Bad Faith Appealing a bad-faith Insurance decision is a state claim based on Nevada law. When a person is injured or property is damaged, individuals rely on insurance companies to pay benefits according to the terms [...]
Bad Faith Claims Not Barred By Suit Limitations in Nevada
While it is common for property insurance policies to contain suit limitation provisions (similar to statues of limitations) that prohibit the insured from filing suit against the insurance company unless the suit is filed within one or two years of the loss, jurisdictions vary on the types of claims that can be barred. A district court in Nevada recently held that a one year suit limitation in a contract did not apply to bad faith claims or UCPA (Unfair Claims Practices Act) claims, but instead only to breach [...]
