The Nevada Division of Insurance published a press release providing guidance to policyholders of Key Insurance Company, which has been replaced into receivership by a court order.
As a result of the order, Key Insurance Company cannot issue new policies or renew existing ones. They currently provide auto policies to over 22,000 Nevada consumers, who should acquire coverage elsewhere to avoid a lapse and to be compliant with the state’s auto insurance requirements.
Policyholders can work with brokers and producers to find new coverage. If they are unable to acquire new coverage, they can contact the Western Association Automobile Insurance Plan (WAAIP). If there is a lapse in coverage, policyholders should fill out the DMV Smart Form to avoid penalties.
Anyone who renewed their policy with Key Insurance Company with an effective date on or after March 4, 2025, will receive a refund.
The press release can be found here.
Ray Sugrim
Ray Sugrim is an Insurance Editor with FC&S Expert Coverage Interpretation, a division of National Underwriter Company and Arc Network. Ray is responsible for helping develop and edit content for subscribers. Ray is a St John’s University graduate with a degree in Risk Management & Insurance and is a CPCU candidate.