The head of a trade group representing Nevada’s largest casino resorts led a chorus of businesses in telling state regulators Thursday that a little-noticed 2023 bill amending the state’s liability insurance laws could cost millions of dollars and drive certain types of insurance out of the state.
The fears were raised during a public workshop hosted by Nevada’s Division of Insurance to adopt a permanent regulation guiding AB398, a bill forbidding insurance companies from using the cost of defense, legal costs or fees to limit liability insurance coverage.
Gov. Joe Lombardo signed an emergency regulation proposed last month by the Division of Insurance to address “grave concerns” presented by the law, and the division on Thursday emphasized the desire to quickly address a lack of clarity within the law through a permanent regulation.
