Insurance companies can usually delay things as long as they want up to 5 years. You have to get you a good attorney to push them to settle with you. A lot of times the insurance attorney will put off the case because they get more money that way too.
An insurance company does not have a specified time limit for settling a claim. However, there are laws governing the amount of communication and time to reply to any contact requests. Complaints can be filed with the state commissioner of insurance.