Insurer filings of commercial rates and loss cost multipliers, except professional liability, farm, and workers' compensation, will go to file and use. Advisory organization loss cost filings remain on a prior approval basis. We are aware that many insurers tend to treat many states' file and use laws like prior approval. That is, they won't implement the rate changes until the regulator has given approval, because they fear subsequent disapproval. We doubt that insurers will do this in Nebraska, however, because the rate review standards for individual file and use filings will not include prohibitions of excessiveness.
Unfair discrimination is limited to race, ethnicity, religion, or creed.
Given that inadequacy is a rarely applied standard, there will be little reason for the Department to disapprove a commercial rate filing. LB 1119 increases commercial lines rate flexibility. Note that form approval under the law continues on a prior approval basis below those thresholds. For commercial insureds above the thresholds, there will be rate or rate and form deregulation. Workers' compensation rates, except for excess workers' compensation, remain subject to prior approval, but the law still opens things up somewhat because dividend rating plans will no longer be subject to filing.