Nevada's Unfair Claims Practices Act (NRS 686A.310(2)) creates a private right of action against an "insurer" for violations of the act. Adjusters might believe that when Plaintiffs allege Unfair Claims Practice that they can point to the "insurer" as the only party who must answer for their violations.However, independent adjusters would be mistaken in their belief.Nevada Licensed Independent Adjusters are familiar with NRS Chapter 684A. That is the section of the law that details … [Read more...]
Must An Insurance Company Immediately Pay The “Undisputed Amount”?
June 7, 2011 by
Our insurance company clients have asked the following question: “Where a first-party claim is involved, does the carrier have to immediately pay the claimant the amount at which the carrier values the claim? Or can it in good faith refuse payment until the parties reach a resolution of the dispute as to value?” The answer to that question always starts with a review of the regulations. Nevada Administrative Code 686A.675 reads as follows: 7. Except for a claim involving health insurance, … [Read more...]
