Chapter 44 — INSURANCE
2,728 sections in this chapter.
Neb. Rev. Stat. § 44-5503 Surplus lines license; issuance.
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The department, in consideration of the payment of the license fee, may issue a surplus lines license, revocable at any time, to any individual who currently holds an insurance producer license or to a foreign or domestic corporation. The corporate surplus lines license shall lis…
Neb. Rev. Stat. § 44-5504 Nonadmitted insurer; surplus lines license; application; fee; expiration; renewal.
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(1) No person, other than an exempt commercial purchaser, shall place, procure, or effect insurance for or on behalf of an insured whose home state is the State of Nebraska in any nonadmitted insurer until such person has first been issued a surplus lines license from the departm…
Neb. Rev. Stat. § 44-5505 Nonadmitted insurer; surplus lines licensee; record of business; contents; how kept.
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Each surplus lines licensee shall keep in the licensee's office a true and complete record of the business transacted by the licensee showing (1) the exact amount of insurance or limits of exposure, (2) the gross premiums charged therefor, (3) the return premium paid thereon, (4)…
Neb. Rev. Stat. § 44-5506 Surplus lines licensee; quarterly statement; tax payment.
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(1) Every surplus lines licensee transacting business under the Surplus Lines Insurance Act shall, on or before March 1 for the quarter ending the preceding December 31, June 1 for the quarter ending the preceding March 31, September 1 for the quarter ending the preceding June 30…
Neb. Rev. Stat. § 44-5506.01 Nonadmitted insurer; certificate of authority; director; powers; provisions applicable.
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(1) The director may provide written authority in the form of a certificate of authority to operate as a domestic surplus lines insurer in the State of Nebraska to a nonadmitted insurer domiciled in this state if the director determines that such nonadmitted insurer: (a) Possesse…
Neb. Rev. Stat. § 44-5507 Nonadmitted insurer; personal jurisdiction.
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Every nonadmitted insurer accepting business under the Surplus Lines Insurance Act shall be held to have sufficient contact with this state for the exercise of personal jurisdiction over such insurer (1) upon any cause of action arising out of any such transaction or (2) in any p…
Neb. Rev. Stat. § 44-5508 Surplus lines licensee; requirements; duties of licensee; violations; penalty; nonadmitted insurer; requirements.
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(1) A surplus lines licensee shall not place coverage with a nonadmitted insurer unless, at the time of placement, the surplus lines licensee has determined that the nonadmitted insurer is a domestic surplus lines insurer or meets the following criteria: (a) Is authorized to writ…
Neb. Rev. Stat. § 44-5509 Surplus lines licensee; policy; information required.
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A surplus lines licensee shall stamp or type upon the declaration page of each policy procured and delivered under the Surplus Lines Insurance Act the following information: (1) The licensee's name, business address, and surplus lines license number; (2) the name under which the …
Neb. Rev. Stat. § 44-5510 Insurance; procurement from nonadmitted insurer; when; terms and conditions; surplus lines licensee; exempt from due diligence search; conditions.
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(1) If an applicant for insurance is unable to procure such insurance as he or she deems reasonably necessary to insure a risk or exposure from an admitted insurer, such insurance may be procured from a nonadmitted insurer upon the following terms and conditions: (a) The insuranc…
Neb. Rev. Stat. § 44-5511 Surplus lines licensee; report; contents; when due.
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On or before March 1 for the quarter ending the preceding December 31, June 1 for the quarter ending the preceding March 31, September 1 for the quarter ending the preceding June 30, and December 1 for the quarter ending the preceding September 30 of each year, every surplus line…
Neb. Rev. Stat. § 44-5512 Violations; director; hearing; orders; penalty; appeal.
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(1) Whenever the director has reason to believe that any person has engaged in any activities in violation of the Surplus Lines Insurance Act, the director may: (a) Issue an order and notice of hearing directing such person to cease and desist from engaging in such activities; or…
Repealed. Laws 2001, LB 51, § 42.
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[Repealed or reserved.]
Neb. Rev. Stat. § 44-5514 Rules and regulations.
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The director may adopt and promulgate rules and regulations to carry out the Surplus Lines Insurance Act.
Neb. Rev. Stat. § 44-5515 Exempt commercial purchaser; taxes; form.
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Every exempt commercial purchaser whose home state is the State of Nebraska shall, on or before March 1 for the quarter ending the preceding December 31, June 1 for the quarter ending the preceding March 31, September 1 for the quarter ending the preceding June 30, and December 1…
Neb. Rev. Stat. § 44-5601 Act, how cited.
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Sections 44-5601 to 44-5613 shall be known and may be cited as the Reinsurance Intermediary Act.
Neb. Rev. Stat. § 44-5602 Terms, defined.
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For purposes of the Reinsurance Intermediary Act: (1) Actuary shall mean a person who is a member in good standing of the American Academy of Actuaries; (2) Controlling person shall mean any person, firm, association, or corporation which directly or indirectly has the power to d…
Neb. Rev. Stat. § 44-5603 Reinsurance intermediary-broker; reinsurance intermediary-manager; license; requirements; issuance; director; duties; fee; renewal; exemption.
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(1) No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this state if the reinsurance intermediary-broker maintains an office directly, as a member or employee of a firm or association, or as an officer, director, or employee of a corpor…
Neb. Rev. Stat. § 44-5603.01 Nonresident reinsurance intermediary license; reciprocal licensure; continuing education.
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(1) The director shall waive any requirements for a nonresident reinsurance intermediary license applicant with a valid license from the applicant's home state, except the requirements imposed by section 44-5603, if the applicant's home state awards nonresident licenses to reside…
Neb. Rev. Stat. § 44-5603.02 Licensed reinsurance intermediary; consent to jurisdiction.
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A reinsurance intermediary, by accepting licensure in this state, is deemed to have consented to the jurisdiction of the director and of the courts of this state with respect to all activities conducted under the license and to have designated the director as its agent for servic…
Neb. Rev. Stat. § 44-5604 Reinsurance; written authorization required; contents.
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Transactions between a reinsurance intermediary-broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall at a minimum provide that: (1) The insurer m…
Neb. Rev. Stat. § 44-5605 Reinsurance intermediary-broker; records; requirements.
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For at least ten years after expiration of each contract of reinsurance transacted by a reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction showing: (1) Type of contract, limits, underwriting restrictions, classes…
Neb. Rev. Stat. § 44-5606 Insurer; prohibited acts; copy of statement of financial condition; obtain.
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(1) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless such person, firm, association, or corporation is licensed as required by subsection (1) of section 44-5603. (2) An insur…
Neb. Rev. Stat. § 44-5607 Reinsurance intermediary-manager; contracts; requirements; records required.
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Transactions between a reinsurance intermediary-manager and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract specifying the responsibilities of each party, which contract shall be approved by the reinsurer's board of directors…
Neb. Rev. Stat. § 44-5608 Reinsurance intermediary-manager; prohibited acts.
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A reinsurance intermediary-manager shall not: (1) Cede retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may cede facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsuran…
Neb. Rev. Stat. § 44-5609 Reinsurer; prohibited acts; requirements.
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(1) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary-manager on its behalf unless such person, firm, association, or corporation is licensed as required by subsection (2) of section 44-5603. (2) The re…
Neb. Rev. Stat. § 44-5610 Reinsurance intermediary; examination by director.
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A reinsurance intermediary shall be subject to examination by the director. The director shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the director. The cost of examination shall be paid by the reinsurance intermedi…
Neb. Rev. Stat. § 44-5611 Violations; penalties; action for damages; act, how construed.
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(1) If the director determines that the reinsurance intermediary or any other person has not materially complied with the Reinsurance Intermediary Act, any rule or regulation adopted and promulgated thereunder, or any order issued thereunder, after notice and opportunity to be he…
Neb. Rev. Stat. § 44-5612 Rules and regulations.
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The director may adopt and promulgate rules and regulations to carry out the Reinsurance Intermediary Act.
Neb. Rev. Stat. § 44-5613 Compliance with act; when.
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No insurer or reinsurer may continue to utilize the services of a reinsurance intermediary on and after January 1, 1993, unless utilization is in compliance with the Reinsurance Intermediary Act.
Neb. Rev. Stat. § 44-5701 Act, how cited.
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Sections 44-5701 to 44-5708 shall be known and may be cited as the Producer-Controlled Property and Casualty Insurer Act.
Neb. Rev. Stat. § 44-5702 Terms, defined.
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For purposes of the Producer-Controlled Property and Casualty Insurer Act: (1) Accredited state shall mean a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards established and promulgated from time to t…
Neb. Rev. Stat. § 44-5703 Applicability of act.
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The Producer-Controlled Property and Casualty Insurer Act shall apply to insurers either domiciled in this state or domiciled in a state that is not an accredited state. All provisions of the Insurance Holding Company System Act, to the extent they are not superseded by the Produ…
Neb. Rev. Stat. § 44-5704 Applicability of section; exception; controlled insurer; controlling producer; requirements; audit committee; filings required; report.
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(1) The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling producer is equal to or greater than five percent of the admitted assets of the controlled insurer,…
Neb. Rev. Stat. § 44-5705 Notice to prospective insured; exception.
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The controlling producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the controlling producer and the controlled insurer, except that if the business is placed through a subproducer who is…
Neb. Rev. Stat. § 44-5706 Enforcement of act; powers and duties; construction of section.
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(1) If the director believes that the controlling producer or any other person has not materially complied with the Producer-Controlled Property and Casualty Insurer Act or any rule or regulation or order after notice and opportunity to be heard, the director may order the contro…
Neb. Rev. Stat. § 44-5707 Rules and regulations.
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The director may adopt and promulgate rules and regulations to carry out the Producer-Controlled Property and Casualty Insurer Act.
Neb. Rev. Stat. § 44-5708 Controlled insurers and controlling producers; compliance with act; when.
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Controlled insurers and controlling producers who are not in compliance with section 44-5704 on January 1, 1993, shall have until March 1, 1993, to come into compliance and shall comply with section 44-5705 beginning with all policies written or renewed on or after March 1, 1993.
Neb. Rev. Stat. § 44-5801 Act, how cited.
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Sections 44-5801 to 44-5816 shall be known and may be cited as the Third-Party Administrator Act.
Neb. Rev. Stat. § 44-5802 Terms, defined.
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For purposes of the Third-Party Administrator Act: (1) Affiliate or affiliated shall mean any entity or person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with a specified entity or person; (2) Control sha…
Neb. Rev. Stat. § 44-5803 Third-party administrator; written agreement; requirements; suspension during dispute.
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(1) No third-party administrator shall act as such without a written agreement between the third-party administrator and the insurer, and such written agreement shall be retained as part of the official records of both the insurer and the third-party administrator for the duratio…
Neb. Rev. Stat. § 44-5804 Payments to third-party administrator; how construed.
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If an insurer utilizes the services of a third-party administrator, the payment to the third-party administrator of any charges and premiums by or on behalf of any policyholder, contract holder, certificate holder, or subscriber shall be deemed to have been received by the insure…
Neb. Rev. Stat. § 44-5805 Transaction records; requirements; access by director; ownership.
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(1) Every third-party administrator shall maintain and make available to the insurer complete records of all transactions performed on behalf of the insurer. The records shall be maintained in accordance with prudent standards of insurance record keeping and shall be maintained f…
Neb. Rev. Stat. § 44-5806 Approved advertising.
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A third-party administrator shall use only such advertising pertaining to the insurance business underwritten by an insurer as has been approved in writing by the insurer in advance of its use.
Neb. Rev. Stat. § 44-5807 Insurer; third-party administrator; responsibilities.
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(1) If an insurer utilizes the services of a third-party administrator, the insurer shall be responsible for determining the benefits, premium rates, underwriting criteria, and claims-payment procedures and for securing reinsurance, if any. The rules pertaining to these matters s…
Neb. Rev. Stat. § 44-5808 Funds collected; held in fiduciary capacity; accounting.
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(1) All charges and premiums collected by a third-party administrator on behalf of or for an insurer or insurers and the return of premiums received from that insurer or insurers shall be held by the third-party administrator in a fiduciary capacity. Such funds shall be immediate…
Neb. Rev. Stat. § 44-5809 Certain contingency agreements prohibited; exceptions.
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A third-party administrator shall not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the third-party administrator's commissions, fees, or charges contingent upon savings effected in the adjustment, settlement, and payment o…
Neb. Rev. Stat. § 44-5810 Notice to certificate holder or subscribers; identification and disclosure of collections.
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(1) If an insurer utilizes the services of a third-party administrator, the third-party administrator shall provide a written notice approved by the insurer to certificate holders or subscribers advising them of the identity of and relationship among the third-party administrator…
Neb. Rev. Stat. § 44-5811 Written communications; delivery.
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Any policies, contracts, certificates, booklets, termination notices, or other written communications delivered by the insurer to the third-party administrator for delivery to policyholders, contract holders, certificate holders, or subscribers shall be delivered by the third-par…
Neb. Rev. Stat. § 44-5812 Certificate of authority; required; application; contents; fee; issuance; director; powers; term; exceptions.
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(1) No person shall act as, offer to act as, or hold himself or herself out to be a third-party administrator in this state without a valid certificate of authority as a third-party administrator issued by the director. (2) An applicant for a certificate of authority as a third-p…
Neb. Rev. Stat. § 44-5813 Application requirements; waiver; when.
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Upon request from a third-party administrator, the director may waive the application requirements of subsection (2) of section 44-5812 if the third-party administrator has a valid certificate of authority as a third-party administrator issued in a state which has requirements fo…