Notwithstanding any other provision of law, an insurer, including, without limitation, an insurer listed in NRS 679A.160, shall not issue or renew a policy of liability insurance that contains a provision that:

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1.  Reduces the limit of liability stated in the policy by the costs of defense, legal costs and fees and other expenses for claims; or

2.  Otherwise limits the availability of coverage for the costs of defense, legal costs and fees and other expenses for claims.