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.
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