Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-4902 Terms, defined.
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For purposes of the Managing General Agents Act: (1) Actuary means a person who is a member in good standing of the American Academy of Actuaries; (2) Business entity means a corporation, association, partnership, limited liability company, limited liability partnership, or other…
Neb. Rev. Stat. § 44-4903 License; requirements.
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No person shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless such person is licensed in accordance with the Insurance Producers Licensing Act. No person shall act in the capacity of a mana…
Neb. Rev. Stat. § 44-4904 Contract; requirements.
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No person acting in the capacity of a managing general agent shall place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and, if both parties share responsibility for a particular functio…
Neb. Rev. Stat. § 44-4905 Managing general agent; prohibited acts.
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The managing general agent shall not: (1) Bind reinsurance or retrocessions on behalf of the insurer, except that the managing general agent may bind facultative reinsurance contracts pursuant to obligatory facultative agreements if the contract with the insurer contains reinsura…
Neb. Rev. Stat. § 44-4906 Insurer; duties.
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(1) The insurer shall have on file an independent audited financial examination or reports for the two most recent fiscal years that prove that the managing general agent has a positive net worth. If the managing general agent has been in existence for less than two fiscal years,…
Neb. Rev. Stat. § 44-4907 Acts of agent; how treated; examination authority.
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The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined by the department as if it were the insurer.
Neb. Rev. Stat. § 44-4908 Violations; penalties; action for damages; construction of act.
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(1) If the director determines that the managing general agent or any other person has not materially complied with the Managing General Agents Act, any rule or regulation adopted or promulgated thereunder, or any order issued thereunder, after notice and opportunity to be heard …
Neb. Rev. Stat. § 44-4909 Rules and regulations.
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The director shall adopt and promulgate reasonable rules and regulations for the implementation and administration of the Managing General Agents Act.
Neb. Rev. Stat. § 44-4910 Compliance with act; when.
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No insurer may continue to utilize the services of a managing general agent on and after January 1, 1991, unless such utilization is in compliance with the Managing General Agents Act.
Neb. Rev. Stat. § 44-5001 Act, how cited.
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Sections 44-5001 to 44-5005 shall be known and may be cited as the Children of Nebraska Hearing Aid Act.
Neb. Rev. Stat. § 44-5002 Legislative findings and declarations.
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The Legislature finds and declares that: (1) For a child impacted by hearing loss, his or her ability to develop language can be improved by the consistent use of a hearing aid; (2) Private insurance benefits for children's hearing aids will ultimately provide long-term savings t…
Neb. Rev. Stat. § 44-5003 Terms, defined.
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For purposes of the Children of Nebraska Hearing Aid Act: (1) Health insurance plan means a plan which includes dependent coverage for an insured child and which is delivered, issued for delivery, renewed, extended, or modified in this state. Health insurance plan includes any su…
Neb. Rev. Stat. § 44-5004 Health insurance plan; coverage required; items and services; exemption from act.
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(1) Beginning January 1, 2020, except as provided in subsection (4) of this section and notwithstanding section 44-3,131, any health insurance plan delivered, issued for delivery, renewed, extended, or modified in this state shall provide coverage pursuant to the Children of Nebr…
Neb. Rev. Stat. § 44-5005 Rules and regulations.
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The Department of Insurance may adopt and promulgate rules and regulations necessary to implement the Children of Nebraska Hearing Aid Act.
Neb. Rev. Stat. § 44-501 Fire insurance policies; form; contents.
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No policy or contract of fire and lightning insurance, including a renewal thereof, shall be made, issued, used, or delivered by any insurer or by any insurance producer or representative of an insurer on property within this state other than such as shall conform as nearly as pr…
Neb. Rev. Stat. § 44-501.01 Fire insurance policies; statement as to coverage of loss by nuclear reaction, nuclear radiation, or radioactive contamination.
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Insurers issuing the standard policy pursuant to section 44-501 are hereby authorized to affix thereto or include therein, subject to the approval of the Director of Insurance, a written statement that the policy does not cover loss or damage caused by nuclear reaction, nuclear r…
Neb. Rev. Stat. § 44-501.02 Fire insurance; valued policies.
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Whenever any policy of insurance is written to insure any real property in this state against loss by fire, tornado, windstorm, lightning, or explosion and the property insured is wholly destroyed without criminal fault on the part of the insured or his or her assignee, the amoun…
Neb. Rev. Stat. § 44-502 Life or endowment policies; provisions required.
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No policy of life or endowment insurance, except policies of industrial insurance, shall be issued or delivered in this state unless it contains in substance the following provisions: (1) A provision that all premiums shall be payable in advance either at the home office of the c…
Neb. Rev. Stat. § 44-502.01 Policy loans; variable interest rates.
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The purpose of sections 44-502.01 to 44-502.04 is to permit and set guidelines for life insurers to include in life insurance policies issued after August 30, 1981, a provision for periodic adjustment of policy loan interest rates.
Neb. Rev. Stat. § 44-502.02 Policy loans; published monthly average, defined.
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For purposes of sections 44-502.01 to 44-502.04, published monthly average shall mean a monthly bond yield average which is: (1) Published by a national financial statistical organization; (2) Recognized by the National Association of Insurance Commissioners; (3) In current gener…
Neb. Rev. Stat. § 44-502.03 Policy loans; interest rates; maximum; adjustments; notice.
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(1) Policies issued on or after August 30, 1981, shall provide for policy loan interest rates as follows: (a) A provision permitting a maximum interest rate of not more than eight percent per annum; or (b) A provision permitting an adjustable maximum interest rate established fro…
Neb. Rev. Stat. § 44-502.04 Policy loans; interest rate provisions; when applicable.
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The provisions of sections 44-502.01 to 44-502.04 shall not apply to any insurance contract issued before August 30, 1981, unless the policyholder agrees in writing to the applicability of such provisions. Any such agreement shall be void unless it is entered into by the policyho…
Neb. Rev. Stat. § 44-502.05 Life insurance; annuity policy; return; when.
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Every individual life insurance or annuity policy, except a credit life policy, shall have printed on its face or attached to the policy a notice stating in substance that the person to whom the policy is issued shall be permitted to return the policy within ten days of its deliv…
Neb. Rev. Stat. § 44-503 Life or endowment policies; provisions prohibited.
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No policy of life or endowment insurance shall be issued or delivered in this state (1) if it contains in substance a provision by which the policy shall purport to be issued, or to take effect, more than six months before the original application for the insurance was made, (2) …
Neb. Rev. Stat. § 44-503.01 Beneficiary; trustee; named or to be named in a will.
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A policy of life insurance may designate as beneficiary a trustee or trustees named or to be named by will, if the designation is made in accordance with the provisions of the policy and the requirements of the insurance company. Immediately after the proving of the will the proc…
Repealed. Laws 1947, c. 164, § 21.
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[Repealed or reserved.]
Repealed. Laws 1947, c. 164, § 21.
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[Repealed or reserved.]
Repealed. Laws 1947, c. 164, § 21.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-507 Foreign and domestic companies; policies; contents; reciprocity.
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The policies of any insurance company not organized under the laws of this state may, if filed with the director pursuant to the Property and Casualty Insurance Rate and Form Act, contain any provisions which the law of the state, territory, district, or country under which the c…
Neb. Rev. Stat. § 44-508 Liability insurance; automobiles; bankruptcy of insured; policy provisions; reciprocity.
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The policies or contracts of insurance covering legal liability for injury to a person or persons caused by the ownership, operation, use, or maintenance of an automobile issued by any domestic or foreign company shall, if filed with the director pursuant to the Property and Casu…
Neb. Rev. Stat. § 44-509 Policies; invalid provisions; construction.
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A policy issued in violation of sections 44-501 to 44-508 shall be held valid, but shall be construed as provided herein, and when any provision in such a policy is in conflict with any provision hereof, the rights, duties and obligations of the company, policyholder and the bene…
Neb. Rev. Stat. § 44-510 Policies; provisions; violations; penalty.
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Any company or association, or any officer, agent, or broker thereof, which or who issues or delivers in this state, or to any citizen thereof, any policy in willful violation of the provisions of sections 44-501 to 44-508 shall be punished by a fine not exceeding one hundred dol…
Neb. Rev. Stat. § 44-5101 Act, how cited.
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Sections 44-5101 to 44-5154 shall be known and may be cited as the Insurers Investment Act.
Neb. Rev. Stat. § 44-5102 Purpose of act.
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The purpose of the Insurers Investment Act is to protect and further the interests of policyholders, claimants, creditors, and the general public by establishing standards, requirements, and limitations for the investments of insurers doing business in this state. Such standards,…
Neb. Rev. Stat. § 44-5103 Terms, defined.
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For purposes of the Insurers Investment Act: (1) Admitted assets means the investments authorized under the act and stated at values at which they are permitted to be reported in the insurer's financial statement filed under section 44-322, except that admitted assets does not in…
Neb. Rev. Stat. § 44-5104 Applicability of act.
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(1) A domestic insurer holding a certificate of authority to do business in this state shall be subject to the Insurers Investment Act. Except as otherwise provided by law, only investments determined to be authorized investments under the act shall be considered admitted assets …
Neb. Rev. Stat. § 44-5105 Authorization and approval; investment records; board of directors; duties.
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(1) An insurer shall not make any investment, sale, loan, or exchange, except loans on its own policies or contracts, unless authorized, approved, or ratified by a majority of the members of the board of directors or by a committee of its members charged by the board of directors…
Neb. Rev. Stat. § 44-5106 Policy loans.
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An insurer may make loans on any of its policies in an amount not exceeding the reserve thereon.
Neb. Rev. Stat. § 44-5107 Separate accounts.
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A life insurer may allocate amounts to separate accounts established pursuant to sections 44-402.01 to 44-402.05.
Neb. Rev. Stat. § 44-5108 Convertible securities.
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An insurer may invest in securities which are convertible into other securities if: (1) The convertible securities are authorized under the Insurers Investment Act at the time of acquisition; and (2) The securities into which such securities are convertible are authorized under t…
Neb. Rev. Stat. § 44-5109 Investments in name of insurer.
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An insurer's investments shall be held in its own name or the name of its nominee, except that: (1) Investments may be held in the name of a clearing corporation, a custodian, or the nominee of either on the following conditions: (a) The clearing corporation, custodian, or nomine…
Neb. Rev. Stat. § 44-511 Life or annuity policy; form; approval; exception; appeal.
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Except as otherwise provided by the Director of Insurance, no policy of life insurance or annuity shall be delivered or issued for delivery in this state, nor shall any endorsement, rider, or application which becomes a part of any such policy be used, until a copy of the form ha…
Neb. Rev. Stat. § 44-5110 Participation.
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(1) An insurer may invest in an individual interest of a pool of obligations or a fractional interest of a single obligation if: (a) The certificate of participation or interest or the confirmation of participation or interest in the investment is issued in the name of the insure…
Neb. Rev. Stat. § 44-5111 Computation of investment limitations.
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Any investment limitation in the Insurers Investment Act based upon the amount of the insurer's admitted assets or policyholders surplus shall relate to admitted assets or policyholders surplus as shown by the most recent financial statement filed by the insurer pursuant to secti…
Neb. Rev. Stat. § 44-5112 Minimum quality ratings.
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Any investment required to meet minimum quality ratings by the Insurers Investment Act shall be subject to the following categories: (1) Category 1. Any investment subject to this subdivision shall have a 1 designation from the Securities Valuation Office. If the Securities Valua…
Neb. Rev. Stat. § 44-5113 Valuation of investments.
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For purposes of the Insurers Investment Act, investments shall be valued in accordance with the valuation procedures established by the National Association of Insurance Commissioners unless the director requires a different valuation method or finds another valuation method reas…
Neb. Rev. Stat. § 44-5114 Prohibited investments.
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An insurer shall not invest in: (1) Issued shares of its own capital stock except with the written permission of the director. Such permission may be granted if the purpose of the acquisition is: (a) In connection with the lawful plan for mutualization of the insurer; (b) In furt…
Neb. Rev. Stat. § 44-5115 Limitation in any one person.
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(1) Except as provided in subsections (2) through (4) of this section, an insurer's investments authorized under the Insurers Investment Act in any one person shall not exceed five percent of the insurer's admitted assets. (2) Subsection (1) of this section shall not apply to: (a…
Neb. Rev. Stat. § 44-5116 Several obligors.
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The amount of any obligation issued, assumed, or guaranteed by more than one obligor and authorized under more than one provision of the Insurers Investment Act shall be allocated to those provisions on a basis proportional to the obligations of each obligor.
Neb. Rev. Stat. § 44-5117 Investments authorized under more than one provision.
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An insurer may hold an investment authorized under more than one provision of the Insurers Investment Act under the provision of its choice except as otherwise expressly provided by law. Nothing in the act shall prevent an insurer from holding an investment under a provision diff…