Neb. Rev. Stat. § 44-6303 — NE Code / Chapter 44 / Section 44-6303
View Statute 44-6303
Status: in_force

(1) Every insurer domiciled in this state shall file a report with the director disclosing any of the following transactions: Material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements, unless such acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements have been submitted to the director for review, approval, or information purposes pursuant to other provisions of the insurance laws of this state, rules and regulations adopted and promulgated thereunder, or other requirements.

(2) The report shall be filed within fifteen days after the end of the calendar month in which any of the transactions occur.

(3) One complete copy of the report, including any exhibits or other attachments filed as part thereof, shall also be filed with the National Association of Insurance Commissioners.

(4) All reports obtained by or disclosed to the director pursuant to the Disclosure of Material Insurance Transactions Act shall be given confidential treatment and shall not be subject to subpoena and shall not be made public by the director, the National Association of Insurance Commissioners or its affiliates and subsidiaries, or any other person, except to other state, federal, foreign, and international regulatory and law enforcement agencies if the recipient agrees in writing to maintain the confidentiality of the information, without the prior written consent of the insurer to which it pertains unless the director, after giving the insurer who would be affected thereby, notice and an opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication thereof, in which event the director may publish all or any part thereof in such manner as he or she deems appropriate.

(5) The director may receive reports described in subsection (1) of this section for foreign or alien insurers from other state, federal, foreign, or international regulatory and law enforcement agencies and from the National Association of Insurance Commissioners and its affiliates and subsidiaries. The director shall maintain as confidential or privileged information received pursuant to this subsection if received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the information. Such information shall not be a public record subject to disclosure by the director pursuant to sections 84-712 to 84-712.09 , subject to subpoena, subject to discovery, or admissible in evidence in any private civil action, except that the director may use such information in any regulatory or legal action brought by the director. The director, and any other person while acting under the authority of the director who has received information pursuant to this subsection, may not, and shall not be required to, testify in any private civil action concerning any information subject to this section. Nothing in this section shall constitute a waiver of any applicable privilege or claim of confidentiality in the information received pursuant to this subsection as a result of information sharing authorized by this section.

Laws 1994, LB 978, § 3;

Laws 2001, LB 52, § 55.