William S. Bennett | SDV Insights Following significant backlash in reaction to the Nevada legislature’s new law prohibiting enforcement of any provisions in liability insurance policies dictating that defense costs are included within the limits of insurance, the Nevada Division of Insurance issued an emergency regulation further clarifying the law.1 The regulation modifies two key… Continue reading Nevada Update: Nevada Commissioner of Insurance Updates Burning Limits Statute with Emergency Regulation
Tag: Nevada
The End of Eroding Limits Policies in Nevada is Just the Beginning
Connor L. Kridle and Sarah J. Odia | Payne & Fears On June 3, 2023, Nevada Gov. Joe Lombardo signed into law AB 398 (the Act) which modifies the Nevada insurance code by restricting the types of liability policies that can be offered in the state. The End of Eroding Limits Policies in Nevada First, the Act… Continue reading The End of Eroding Limits Policies in Nevada is Just the Beginning
An Uncharted Frontier: Nevada First State to Prohibit Defense-Within-Limits Provisions
Geoffrey B. Fehling and Andrew S. Koelz | Hunton Andrews Kurth Nevada recently became the first state to prohibit defense-within-limits provisions in liability insurance policies. Defense-within-limits provisions—resulting in what’s called “eroding” or “wasting” policies—reduce the policy’s applicable limit of insurance by amounts the insurer pays to defend the policyholder against a claim or suit. These… Continue reading An Uncharted Frontier: Nevada First State to Prohibit Defense-Within-Limits Provisions
The American Rule Doesn’t Stand: Contractor Uses Offer of Judgment to Recover Attorneys’ Fees in Retention Dispute
John Mark Goodman | BuildSmart Last week we saw the Menard court reject the use of an indemnity clause to shift fees in a dispute between contracting parties. This week, a very recent decision from Nevada highlights another creative way to shift fees where there is no statute or contract provision on point: offers of judgment (see Helix Electric… Continue reading The American Rule Doesn’t Stand: Contractor Uses Offer of Judgment to Recover Attorneys’ Fees in Retention Dispute
Nevada Supreme Court Holds that Pay-If-Paid Provisions Require a Case-By-Case Analysis to Determine Their Enforceability
Petar Angelov | Bradley Arant Boult Cummings A “pay-if-paid” provision typically makes payment by an owner to a general contractor a condition precedent to the general contractor’s obligation to pay a subcontractor for work the subcontractor has performed. In the recent decision of Helix Electric of Nevada, LLC v. APCO Construction, Inc. (related to the case above),… Continue reading Nevada Supreme Court Holds that Pay-If-Paid Provisions Require a Case-By-Case Analysis to Determine Their Enforceability