Nevada law doesn’t mandate specific settlement timeframes but requires insurance companies to handle claims in good faith without unreasonable delays. Insurers must acknowledge claims within 20 days and accept or deny coverage within 30 days after receiving proof of loss. They cannot unreasonably delay investigation or payment once liability becomes reasonably clear under policy terms. Bad faith practices including unjustified delays can subject insurers to penalties beyond policy limits. Insurance companies often use full policy periods hoping financial pressure forces lower settlements from desperate claimants. Your attorney can file lawsuits forcing action and potentially recovering bad faith damages for unreasonable claim handling. Document all communications and delays building potential bad faith claims if insurers don’t act reasonably.