Surviving the storm is just the first part of rebuilding your home. Next, you must navigate your homeowner’s insurance claims process. And, when you file a homeowner’s insurance claim in Nevada, it is crucial to grasp the timelines insurance companies must follow. This is particularly important when it comes to supplements, which cover unforeseen expenses linked to the original home damage. Regulatory guidelines for insurers In Nevada, insurers must resolve claims within roughly 3 months or 80 days, segmented into distinct stages. First, there is claim acknowledgment. Insurers must acknowledge ..read more

When you file an insurance claim in Nevada, you are likely to hear about different types of damages. One of these is compensatory damages. Compensatory damages are exactly what they sound like: they are meant to compensate you for the losses you suffered due to an injury, accident or loss. There is generally a limit on compensatory damages. They cannot exceed the actual cost of the harm or loss. In many cases, calculating the total cost of the loss can be challenging. To recover compensatory damages, you must prove your harm or loss and present evidence demonstrating the total cost of your dam ..read more

If you have ever filed a property damage claim with your insurance company in Las Vegas, Nevada, you might be familiar with the frustration of delays in responses or payments. But, is your insurance company violating the law by prolonging the claims process? Understanding Nevada’s time rules for insurance claims The Nevada Division of Insurance is responsible for regulating the insurance industry in the state and sets the time rules for insurance claims. These rules dictate the duration within which an insurance company must acknowledge, investigate, decide on and pay a claim. Generally, the k ..read more

If you are a homeowner in Nevada facing property damage or loss, understanding the legal requirements and deadlines for home insurance claims is crucial. Nevada law, governed by the Nevada Administrative Code and the Nevada Revised Statutes, outlines specific guidelines that insurance companies must adhere to in processing claims. Acknowledgment and instructions Here is a breakdown of the legal requirements for home insurance claims in Nevada. First, is the acknowledgment and instructions. Insurance companies have 20 working days to acknowledge a claim, sending policyholders necessary instruct ..read more

Most of the time, we don’t give our car insurance a lot of thought. As long as we pay our premiums, we expect our insurer to cover us if we get in an accident. But after an accident, we are forced to deal with the intricacies of insurance policies and the law. In some instances, there is an issue over primary and excess coverage. This is an area of insurance that many are unfamiliar with, but understanding it is important when seeking to get reimbursed. Facts about primary and excess coverage When there are at least two policies in effect for a motor vehicle and there is an accident in which a ..read more

The phrase “nuclear verdict” has become more commonplace in the insurance industry over the last several years. Nuclear verdicts are indeed something many insurance carriers doing business in Nevada, as well as their policyholders, are and should be concerned about. What is a nuclear verdict? According to an online insurance industry magazine, a nuclear verdict is any judgment or settlement greater than $10 million. Every case has a dollar range for which it should get resolved. Insurance companies estimate this dollar range based on several factors, including what courts and juries have histo ..read more

If your company has been accused of acting in bad faith, then you need to act now to defend yourself. If you don’t, then you could wind up with a judgment against you that’s far more costly than what otherwise would’ve been seen, and the publicity associated with the case can be damaging to your reputation. But what’s the best way to defend yourself from allegations of acting in bad faith? Let’s take a closer look. Tips for defending your company against allegations of bad faith Remember, for a plaintiff to succeed against you, they must show that you acted unreasonably in delaying or denying ..read more

A recent report on Nevada’s health insurance industry reveals a stark contrast between the state of the public’s health care and the state of the insurance business. The report, by the nonprofit group United States of Care, found that almost two-thirds of Nevada residents had trouble affording health care in 2022, the most recent year for which statistics were available. Some delayed dental or medical visits because they were worried about costs. Others went without insurance. Many others struggled to pay their medical bills. At the same time, insurance providers saw record profits. In part th ..read more

Legal issues involving insurance can be complicated. For policyholders, the terms and conditions of their policy – and when it applies – can be difficult to understand. For insurance companies, sorting through the alleged facts that are involved in a claim can be the most difficult part of the process. No one wants to engage in insurance claims in bad faith, but the reality is that sometimes these situations lead to litigation. But, can that be avoided? Alternative dispute resolution If possible, it is oftentimes beneficial to all parties involved to find ways to avoid courtroom litigation as ..read more

If you own a business, then you should ensure that you have enough coverage in place to cover losses if something goes wrong. While this includes insuring your property, it also means protecting yourself from professional liability, such as when your or a partner’s negligence results in damages. Insurance that insulates you from these acts, referred to as errors and omissions insurance (E&O insurance), can help offset costs associated with court, settlements, judgments and other damages. Yet simply because you have this insurance doesn’t mean that a filed claim with be granted. In fact, bu ..read more