reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7614 - Disciplinary action.

44-7614.
Disciplinary action.
(1) After notice and a hearing conducted pursuant to the Administrative Procedure Act, the director may suspend or revoke a certificate of registration or may impose an administrative fine not to exceed one thousand dollars per violation, or any combination of actions, if the director finds the multiple employer welfare arrangement:
(a) Fails to maintain the stop-loss insurance policy as required by section 44-7609;
(b) Engages in financial practices that make further transaction of business in this state hazardous or injurious to its participating employers, covered individuals, or the public;
(c) Within fifteen business days, fails to respond or request a reasonable amount of additional time to respond in which time a response is made, to an inquiry of the director;
(d) Fails for an unreasonable period to pay any final judgment rendered against it in this state on any contractual obligation;
(e) Conducts business fraudulently or has not met its contractual obligations in good faith;
(f) Made, published, disseminated, circulated, or placed before the public or caused, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public in a newspaper, magazine, or other publication or in the form of a notice, circular, pamphlet, letter, or poster or over any radio or television station, or in any other way, an advertisement, announcement, or statement containing any assertion, representation, or statement with respect to the health benefit plan or with respect to any insurer in the conduct of his or her business which is untrue, deceptive, or misleading; or
(g) Violates any provision of the Multiple Employer Welfare Arrangement Act or section 44-106 or 44-114.
(2) Instead of or in addition to the penalties set forth in subsection (1) of this section, the director may issue a cease and desist order to a multiple employer welfare arrangement if such multiple employer welfare arrangement engages in any of the activities set forth in subsection (1) of this section.
Source
Laws 2002, LB 1139, § 14;
Laws 2020, LB1014, § 7.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7616 - Offering of plan; how construed.

44-7616.
Offering of plan; how construed.
(1) The offering of a health benefit plan by any multiple employer welfare arrangement shall not be deemed transacting business as an insurer, association, or exchange, except as specifically set forth in the Multiple Employer Welfare Arrangement Act. The insurance laws of this state do not apply to health benefit plans offered by multiple employer welfare arrangements except as specifically set forth in the act.
(2) Nothing in the act shall be construed to include an insolvent multiple employer welfare arrangement within the provisions of the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act.
Source
Laws 2002, LB 1139, § 16.
Cross References
Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7617 - Act; applicability.

44-7617.
Act; applicability.
(1) Except as provided in subsection (2) of this section, the Multiple Employer Welfare Arrangement Act shall apply to multiple employer welfare arrangements offering health benefit plans on or after July 20, 2002.
(2) The Multiple Employer Welfare Arrangement Act shall apply to multiple employer welfare arrangements providing health care coverage to self-employed individuals on or after January 1, 2020.
Source
Laws 2002, LB 1139, § 17;
Laws 2020, LB1014, § 9.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7618 - Compliance with provisions of federal law, required; trust; surplus; amount required.

44-7618.
Compliance with provisions of federal law, required; trust; surplus; amount required.
(1) A multiple employer welfare arrangement that provides health care coverage to self-employed individuals shall comply with the Patient Protection and Affordable Care Act, Public Law 111-148, as amended by the Health Care and Education Reconciliation Act of 2010, Public Law 111-152, as such acts existed on January 1, 2020, and the following protections for covered individuals that would otherwise be required under the Employee Retirement Income Security Act of 1974:
(a) Fiduciary duties in section 404 of the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1104;
(b) Claims and appeal procedures in section 503 of the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1133;
(c) The Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, 29 U.S.C. 1185a;
(d) The Newborns' and Mothers' Health Protection Act of 1996, 29 U.S.C. 1185; and
(e) The Genetic Information Nondiscrimination Act of 2008, 29 U.S.C. 1182.
(2) A multiple employer welfare arrangement that provides health care coverage to covered individuals who are self-employed individuals shall establish and maintain a surplus in the trust established pursuant to section 44-7607 in an amount equal to at least seven hundred fifty thousand dollars. The director may increase the amount required to be deposited in the trust based on the director's determination that such an increase is necessary after considering the level of aggregate and specific stop-loss insurance provided with respect to such multiple employer welfare arrangement and other factors related to solvency risk, such as the multiple employer welfare arrangement's projected levels of participation or claims, the nature of the multiple employer welfare arrangement's liabilities, and the types of assets available to assure that such liabilities are met.
Source
Laws 2020, LB1014, § 8.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7702 - Purpose of act.

44-7702.
Purpose of act.
The purpose of the Model Act Regarding Use of Credit Information in Personal Insurance is to regulate the use of credit information for personal insurance, so that consumers are afforded certain protections with respect to the use of such information.
Source
Laws 2003, LB 487, § 2.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7703 - Act; applicability.

44-7703.
Act; applicability.
The Model Act Regarding Use of Credit Information in Personal Insurance applies to personal insurance and not to commercial insurance. For purposes of the act, personal insurance means private passenger automobile, homeowners, motorcycle, autocycle, mobile homeowners, noncommercial dwelling fire, and boat, personal watercraft, snowmobile, and recreational vehicle insurance policies. Such policies must be individually underwritten for personal, family, or household use. No other type of insurance shall be included as personal insurance for purposes of the act.
Source
Laws 2003, LB 487, § 3;
Laws 2015, LB231, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7704 - Terms, defined.

44-7704.
Terms, defined.
For purposes of the Model Act Regarding Use of Credit Information in Personal Insurance:
(1) Adverse action means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of personal insurance;
(2) Affiliate means any company that controls, is controlled by, or is under common control with another company;
(3) Applicant means an individual who has applied to be covered by a personal insurance policy with an insurer;
(4) Consumer means an insured whose credit information is used or whose insurance score is calculated in the underwriting or rating of a personal insurance policy or an applicant for such a policy;
(5) Consumer reporting agency means any person which, for monetary fees, for dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties;
(6) Credit information means any credit-related information derived from a credit report, found on a credit report itself, or provided on an application for personal insurance. Information that is not credit-related shall not be considered credit information, regardless of whether it is contained in a credit report or in an application or is used to calculate an insurance score;
(7) Credit report means any written, oral, or other communication of information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, or credit capacity which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor to determine personal insurance premiums, eligibility for coverage, or tier placement; and
(8) Insurance score means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of an individual applicant or insured.
Source
Laws 2003, LB 487, § 4.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7706 - Credit information; notice; insurer; duties.

44-7706.
Credit information; notice; insurer; duties.
If it is determined through the dispute resolution process set forth in the federal Fair Credit Reporting Act, as such act existed on January 1, 2003, 15 U.S.C. 1681i(a)(5), that the credit information of a current insured was incorrect or incomplete and if the insurer receives notice of such determination either from the consumer reporting agency or from the insured, the insurer shall reunderwrite and rerate the consumer within thirty days after receiving the notice. After reunderwriting or rerating the insured, the insurer shall make any adjustments necessary, consistent with its underwriting and rating guidelines. If an insurer determines that the insured has overpaid a premium, the insurer shall refund to the insured the amount of overpayment calculated back to the shorter of either the last twelve months of coverage or the actual policy period.
Source
Laws 2003, LB 487, § 6.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7707 - Disclosures; required.

44-7707.
Disclosures; required.
(1) If an insurer writing personal insurance uses credit information in underwriting or rating a consumer, the insurer or its agent shall disclose, either on the insurance application or at the time the insurance application is taken, that it may obtain credit information in connection with such application. Such disclosure shall be either written or provided to an applicant in the same medium as the application for insurance. The insurer need not provide the disclosure statement required under this section to any insured on a renewal policy, if such consumer has previously been provided a disclosure statement.
(2) Use of the following example disclosure statement constitutes compliance with this section: "In connection with this application for insurance, we may review your credit report or obtain or use a credit-based insurance score based on the information contained in that credit report. We may use a third party in connection with the development of your insurance score.".
Source
Laws 2003, LB 487, § 7.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7708 - Adverse action; notice requirements.

44-7708.
Adverse action; notice requirements.
If an insurer takes an adverse action based upon credit information, the insurer must meet the notice requirements of both subdivisions (1) and (2) of this section. Such insurer shall:
(1) Provide notification to the consumer that an adverse action has been taken, in accordance with the requirements of the federal Fair Credit Reporting Act, as such act existed on January 1, 2003, 15 U.S.C. 1681m(a); and
(2) Provide notification to the consumer explaining the reason for the adverse action. The reasons must be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer's decision to take an adverse action. Such notification shall include a description of up to four factors that were the primary influences of the adverse action. The use of generalized terms such as poor credit history, poor credit rating, or poor insurance score does not meet the explanation requirements of this subdivision. Standardized credit explanations provided by consumer reporting agencies or other third-party vendors are deemed to comply with this section.
Source
Laws 2003, LB 487, § 8.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7709 - Scoring models or processes; filing.

44-7709.
Scoring models or processes; filing.
Insurers that use insurance scores to underwrite and rate risks shall file their scoring models or other scoring processes with the Department of Insurance. A third party may file scoring models on behalf of insurers. A filing that includes insurance scoring may include loss experience justifying the use of credit information. Any filing relating to credit information is considered a trade secret.
Source
Laws 2003, LB 487, § 9.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7710 - Indemnification of insurance producers.

44-7710.
Indemnification of insurance producers.
An insurer shall indemnify, defend, and hold agents harmless from and against all liability, fees, and costs arising out of or relating to the actions, errors, or omissions of an insurance producer who obtains or uses credit information or insurance scores for an insurer if the insurance producer follows the instructions of or procedures established by the insurer and complies with any applicable law or regulation. Nothing in this section shall be construed to provide a consumer or other insured with a cause of action that does not exist in the absence of this section.
Source
Laws 2003, LB 487, § 10.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7711 - Consumer reporting agency; prohibited acts.

44-7711.
Consumer reporting agency; prohibited acts.
(1) No consumer reporting agency shall provide or sell data or lists that include any information that in whole or in part was submitted in conjunction with an insurance inquiry about a consumer's credit information or a request for a credit report or insurance score. Such information includes, but is not limited to, the expiration dates of an insurance policy or any other information that may identify time periods during which a consumer's insurance may expire and the terms and conditions of the consumer's insurance coverage.
(2) The restrictions provided in subsection (1) of this section do not apply to data or lists the consumer reporting agency supplies to the insurance producer from whom information was received, the insurer on whose behalf such insurance producer acted, or such insurer's affiliates or holding companies.
(3) Nothing in this section shall be construed to restrict any insurer from being able to obtain a claims history report or a motor vehicle report.
Source
Laws 2003, LB 487, § 11.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-7902 - Statement of Actuarial Opinion; filing; supporting documents; appointed actuary; immunity.

44-7902.
Statement of Actuarial Opinion; filing; supporting documents; appointed actuary; immunity.
(1) Beginning January 1, 2007, every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled Statement of Actuarial Opinion. This opinion shall be filed in accordance with the appropriate National Association of Insurance Commissioners Property and Casualty Annual Statement Instructions.
(2)(a) Every property and casualty insurance company domiciled in this state that is required to submit a Statement of Actuarial Opinion shall annually submit an actuarial opinion summary, written by the company's appointed actuary. This actuarial opinion summary shall be filed in accordance with the appropriate National Association of Insurance Commissioners Property and Casualty Annual Statement Instructions and shall be considered as a document supporting the Statement of Actuarial Opinion required in subsection (1) of this section.
(b) A property and casualty insurance company authorized to do business in this state but not domiciled in this state shall provide the actuarial opinion summary to the Director of Insurance upon request.
(3)(a) An actuarial report and underlying workpapers as required by the appropriate National Association of Insurance Commissioners Property and Casualty Annual Statement Instructions shall be prepared to support each Statement of Actuarial Opinion.
(b) If the insurance company fails to provide a supporting actuarial report or workpapers at the request of the director or the director determines that the supporting actuarial report or workpapers provided by the insurance company is otherwise unacceptable to the director, the director may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or workpapers.
(4) The appointed actuary shall not be liable for damages to any person, other than the insurance company or the director, for any act, error, omission, decision, or conduct with respect to the actuary's opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.
Source
Laws 2005, LB 119, § 40.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8002 - Terms, defined.

44-8002.
Terms, defined.
For purposes of the Health Care Prompt Payment Act:
(1) Claim form means an insurer's standard printed or electronic transaction form that complies with the standards issued by the Secretary of the United States Department of Health and Human Services or, if an insurer does not have a standard printed or electronic transaction form, any form which complies with such standards;
(2) Clean claim means a claim for payment of health care services that is submitted by a Nebraska health care provider to an insurer on a claim form with all required fields completed with information to adjudicate the claim in accordance with any published filing requirements of the insurer;
(3) Director means the Director of Insurance;
(4) Insurer means an entity that contracts to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care services, including a sickness and accident insurance company, a health maintenance organization, a prepaid limited health service organization, a prepaid dental service corporation, a participant in an insurance arrangement as defined in section 44-4105, or any other entity providing a plan of health insurance, health benefits, or health care services. Insurer does not include the medical assistance program established pursuant to the Medical Assistance Act, a property and liability insurer, a motor vehicle insurer, a workers' compensation insurer, a risk management pool, or a self-insured employer who contracts for services to be provided through a managed care plan certified pursuant to section 48-120.02;
(5) Prompt payment act compliance statement means a certification made in good faith by an insurer that, during the twenty-four-month period ending on the preceding June 30, it paid, denied, or settled more than ninety percent of its clean claims within the time periods set forth in subsections (1) and (2) of section 44-8004;
(6) Repricer means an entity that receives claims from health care providers and submits them to insurers after adjudicating or repricing such claims; and
(7) Unfair payment pattern means any of the following patterns of conduct:
(a) Engaging in a demonstrable and unjust pattern of reviewing or processing complete and accurate claims that results in payment delays;
(b) Engaging in a demonstrable and unjust pattern of reducing the amount of payment or denying complete and accurate claims;
(c) Repeated failure to pay the uncontested portions of a claim within the time periods specified in section 44-8004; or
(d) Failing on a repeated basis to pay the interest when due on claims pursuant to section 44-8005.
Source
Laws 2005, LB 389, § 2;
Laws 2006, LB 1248, § 66.
Cross References
Medical Assistance Act, see section 68-901.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8003 - Claim; date of receipt; rebuttable presumption.

44-8003.
Claim; date of receipt; rebuttable presumption.
If a claim is submitted electronically, the claim is presumed to have been received on the date of the electronic verification of receipt by the insurer or the insurer's clearinghouse. If a claim is submitted by mail, the claim is presumed to have been received five business days after the claim has been placed in the United States mail with first-class postage prepaid. The presumption may be rebutted by sufficient evidence that the claim was received on another day or not received at all.
Source
Laws 2005, LB 389, § 3.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8004 - Action on claim; deadline.

44-8004.
Action on claim; deadline.
(1) A clean claim shall be paid, denied, or settled within thirty calendar days after receipt by the insurer if submitted electronically and within forty-five calendar days after receipt if submitted in a form other than electronically.
(2) If the resolution of a claim requires additional information, the insurer shall, within thirty calendar days after receipt of the claim, give the health care provider, policyholder, insured, or patient, as appropriate, a full explanation in writing of what additional information is needed to resolve the claim, including any additional medical or other information related to the claim. The applicable time period set forth in subsection (1) of this section shall be tolled as of the date the additional information is requested until the date all such additional information necessary to resolve the claim is received. The person receiving a request for such additional information shall submit all additional information requested by the insurer within thirty calendar days after receipt of such request. After such person has provided all such additional information necessary to resolve the claim, the claim shall be paid, denied, or settled by the insurer within the remaining applicable time period set forth in subsection (1) of this section. Failure to furnish additional information within the time period required shall not invalidate or reduce the claim if it was not reasonably possible to give such information within such time period. The insurer may deny a claim if a health care provider receives a request for additional information and fails to submit additional information requested under this subsection.
(3) For purposes of subsection (1) of this section, a clean claim shall not include a claim:
(a) For which the insurer needs additional information in order to resolve one or more issues concerning coverage, eligibility, coordination of benefits, investigation of preexisting conditions, subrogation, determination of medical necessity, or the use of unlisted procedural codes; or
(b) For which the insurer has a reasonable belief supported by specific information that the claim has been submitted fraudulently.
(4) If a claim is submitted to a repricer, the time periods for payment, denial, or settlement of such claims set forth in this section shall commence upon receipt of the claim by the repricer.
Source
Laws 2005, LB 389, § 4.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8005 - Interest; rate; payment.

44-8005.
Interest; rate; payment.
(1) An insurer that fails to pay, deny, or settle a clean claim in accordance with the time periods set forth in subsection (1) of section 44-8004 or to take other required action within the time periods set forth in subsection (2) of section 44-8004 shall pay interest at the rate of twelve percent per annum on the total amount ultimately allowed on the claim, accruing from the date payment was due pursuant to section 44-8004.
(2) To the extent that interest is not paid concurrently with the claim, it may be paid on a quarterly basis or when the aggregate interest for a health care provider exceeds ten dollars.
Source
Laws 2005, LB 389, § 5.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8006 - Prompt payment act compliance statement; filing; effect; list available.

44-8006.
Prompt payment act compliance statement; filing; effect; list available.
An insurer shall be exempt from the requirements of section 44-8005 during a calendar year when the insurer has a prompt payment act compliance statement on file with the director. Any insurer desiring to obtain the exemption shall file a prompt payment act compliance statement with the director not later than December 1 of the year prior to the exemption year. A list of insurers with prompt payment act compliance statements on file shall be publicly available from the director.
Source
Laws 2005, LB 389, § 6.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8007 - Claims processing functions; delegation; requirements.

44-8007.
Claims processing functions; delegation; requirements.
If an insurer delegates its claims processing functions to a third party, the delegation agreement shall provide that the third party shall consent to an examination and cooperate with that examination by the director and shall comply with the requirements of the Health Care Prompt Payment Act. Any delegation by the insurer shall not be construed to limit the insurer's responsibility to comply with the act.
Source
Laws 2005, LB 389, § 7.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8009 - Applicability of act.

44-8009.
Applicability of act.
The Health Care Prompt Payment Act does not apply to any individual or group policies that provide coverage for a specific disease, accident-only coverage, hospital indemnity coverage, disability income coverage, medicare supplement coverage, long-term care coverage, or other limited-benefit coverage. The act does not apply to any claim submitted before January 1, 2006.
Source
Laws 2005, LB 389, § 9.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8101 - Act, how cited.

44-8101.
Act, how cited.
Sections 44-8101 to 44-8109 shall be known and may be cited as the Nebraska Protection in Annuity Transactions Act.
Source
Laws 2006, LB 875, § 13;
Laws 2007, LB117, § 26;
Laws 2012, LB887, § 21.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8102 - Purpose of act; cause of action; liability; act, how construed.

44-8102.
Purpose of act; cause of action; liability; act, how construed.
(1) The purpose of the Nebraska Protection in Annuity Transactions Act is to require producers to act in the best interest of the consumer when making a recommendation of an annuity and to require insurers to establish and maintain a system to supervise recommendations so that the consumers' insurance needs and financial objectives at the time of the transaction are appropriately addressed.
(2) Nothing in the Nebraska Protection in Annuity Transactions Act shall be construed to create or imply a private cause of action for a violation of the act or to subject a producer to civil liability under the best interest standard of care outlined in section 44-8106 or under standards governing the conduct of a fiduciary or fiduciary relationship.
Source
Laws 2006, LB 875, § 14;
Laws 2007, LB117, § 27;
Laws 2012, LB887, § 22;
Laws 2021, LB22, § 1.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8103 - Applicability of act; rules and regulations.

44-8103.
Applicability of act; rules and regulations.
(1) The Nebraska Protection in Annuity Transactions Act applies to any recommendation or sale of an annuity.
(2) The Director of Insurance may adopt and promulgate rules and regulations to carry out the Nebraska Protection in Annuity Transactions Act.
Source
Laws 2006, LB 875, § 15;
Laws 2007, LB117, § 28;
Laws 2012, LB887, § 23;
Laws 2021, LB22, § 2.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8104 - Act; exemptions.

44-8104.
Act; exemptions.
Unless otherwise specifically included, the Nebraska Protection in Annuity Transactions Act does not apply to transactions involving:
(1) Direct response solicitations if there is no recommendation based on information collected from the consumer pursuant to the act; or
(2) Contracts used to fund:
(a) An employee pension or welfare benefit plan that is covered by the federal Employee Retirement Income Security Act of 1974;
(b) A plan described by section 401(a), 401(k), 403(b), 408(k), or 408(p) of the Internal Revenue Code if established or maintained by an employer;
(c) A government or church plan defined in section 414 of the Internal Revenue Code, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization under section 457 of the Internal Revenue Code;
(d) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;
(e) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or
(f) Contracts entered into pursuant to the Burial Pre-Need Sale Act.
Source
Laws 2006, LB 875, § 16;
Laws 2007, LB117, § 29;
Laws 2012, LB887, § 24.
Cross References
Burial Pre-Need Sale Act, see section 12-1101.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8107 - Insurer; duties; Director of Insurance; powers; violations.

44-8107.
Insurer; duties; Director of Insurance; powers; violations.
(1) An insurer is responsible for compliance with the Nebraska Protection in Annuity Transactions Act. If a violation occurs, either because of the action or inaction of the insurer or its producer, the Director of Insurance may order:
(a) An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with the Nebraska Protection in Annuity Transactions Act by the insurer, an entity contracted to perform the insurer's supervisory duties, or by the producer;
(b) A general agency, an independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of the act; and
(c) Appropriate penalties and sanctions.
(2) A violation of the act shall be an unfair trade practice in the business of insurance under the Unfair Insurance Trade Practices Act.
(3) The director may reduce or eliminate any applicable penalty under section 44-1529 for a violation of the Nebraska Protection in Annuity Transactions Act if corrective action for the consumer was taken promptly after a violation was discovered or the violation was not part of a pattern or practice.
Source
Laws 2006, LB 875, § 19;
Laws 2007, LB117, § 32;
Laws 2012, LB887, § 27;
Laws 2021, LB22, § 5.
Cross References
Unfair Insurance Trade Practices Act, see section 44-1521.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8109 - Changes made to act; applicability.

44-8109.
Changes made to act; applicability.
The changes made to the Nebraska Protection in Annuity Transactions Act by Laws 2021, LB22, shall apply to solicitations occurring on and after January 1, 2022.
Source
Laws 2012, LB887, § 29;
Laws 2021, LB22, § 7.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8202 - Purposes of act.

44-8202.
Purposes of act.
The purposes of the Captive Insurers Act are to set forth the procedures for organizing and regulating the operations of captive insurers within the State of Nebraska and to encourage integrity, financial solvency, and stability of captive insurers for the purpose of promoting the development of Nebraska businesses.
Source
Laws 2007, LB117, § 36.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8203 - Terms, defined.

44-8203.
Terms, defined.
For purposes of the Captive Insurers Act:
(1) Affiliated entity means any entity that directly or indirectly controls, is controlled by, or is under common control with a captive insurer;
(2) Captive insurer means a domestic insurer authorized under the act to provide insurance and reinsurance to its parent, any affiliated entity, or both. Such insurance and reinsurance shall be limited to the risks, hazards, and liabilities of its parent and affiliated entities;
(3) Control means the power to direct or cause the direction of the management and policies of an entity through ownership of voting securities;
(4) Director means the Director of Insurance; and
(5) Parent means an entity that directly or indirectly owns, controls, or holds, with power to vote, more than fifty percent of the outstanding voting securities or other ownership interest of a captive insurer.
Source
Laws 2007, LB117, § 37.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8206 - Management of business; director or officer; restriction.

44-8206.
Management of business; director or officer; restriction.
A board of directors or other governing body consisting of not less than three individuals shall manage the business of each captive insurer. The organizational documents or bylaws shall provide for the terms, meetings, and elections of the directors and officers of the governing body. No individual may serve as a director or officer who has been convicted of fraud involving any financial institution or of a felony involving misuse of funds.
Source
Laws 2007, LB117, § 40.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8207 - Certificate of authority; expiration; renewal; fee.

44-8207.
Certificate of authority; expiration; renewal; fee.
The certificate of authority issued to a captive insurer shall expire on June 30 of each year. The director shall renew the certificate of authority upon payment of an annual renewal fee of five hundred dollars and all other required fees and the filing of all required reports.
Source
Laws 2007, LB117, § 41.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8208 - Report; filing required; form; director; other reports.

44-8208.
Report; filing required; form; director; other reports.
(1) Every captive insurer with a certificate of authority to transact business in this state pursuant to the Captive Insurers Act shall file with the director a report, signed and sworn to by its chief officers, of its financial condition as of the end of each fiscal year. The report shall be in a form prescribed by the director and contain such information as the director deems necessary for the purpose of ascertaining whether the captive insurer can continue to meet its policy obligations to its parent, affiliated entities, and claimants. The report shall be filed within sixty days following the end of the captive insurer's fiscal year. The director may require that the report include the information required by section 44-322, including any instructions, procedures, and guidelines consistent with the act.
(2) The director may prescribe the format and frequency of other reports to be filed, which may include, but not be limited to, summary loss reports, quarterly financial statements, audited annual financial statements, holding company statements, biographical information on officers and directors, and other professional reports.
Source
Laws 2007, LB117, § 42.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8209 - Total capital and surplus requirements; director; powers; letter of credit requirements.

44-8209.
Total capital and surplus requirements; director; powers; letter of credit requirements.
(1) No captive insurer shall be permitted to transact any business in this state unless it maintains total capital and surplus in the amount of at least one hundred thousand dollars in such form as is acceptable to the director.
(2) Upon a written finding by the director that the approved plan of operation or the operational results of the captive insurer require either additional capital or a larger surplus than required by this section, the director may require that additional capital or surplus, or both, be obtained. Additional capital or surplus may be tendered in the form of an irrevocable evergreen letter of credit acceptable to the director.
(3) Any letter of credit provided to satisfy the requirements of the Captive Insurers Act shall be:
(a) Jointly held under the control of the director and the captive insurer for the benefit of claimants;
(b) Issued or confirmed by an institution that is insured by the Federal Deposit Insurance Corporation;
(c) The sole property of such captive insurer; and
(d) Free and clear of any claim or encumbrance.
Source
Laws 2007, LB117, § 43.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8210 - Examinations.

44-8210.
Examinations.
The director may examine the financial condition, affairs, and management of any applicant or captive insurer pursuant to the Insurers Examination Act.
Source
Laws 2007, LB117, § 44.
Cross References
Insurers Examination Act, see section 44-5901.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8211 - Investments; limitation on loans and investments.

44-8211.
Investments; limitation on loans and investments.
(1) Captive insurers shall be subject to the types and nature of investments as set forth in the Insurers Investment Act, but not subject to any limitations contained in such act as to invested amounts, except that the director may prohibit or limit any investment that threatens the solvency or liquidity of any such captive insurer or if such investments are not made in accordance with the approved plan of operation.
(2) No captive insurer may make a loan to or an investment in its parent or affiliated entities without prior written approval of the director and any such transaction shall be evidenced by documentation approved by the director. Loans of minimum capital and surplus funds are prohibited.
Source
Laws 2007, LB117, § 45.
Cross References
Insurers Investment Act, see section 44-5101.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8212 - Credit for reserves ceded to reinsurer.

44-8212.
Credit for reserves ceded to reinsurer.
(1) Except as otherwise provided in subsection (2) of this section, any captive insurer authorized to do business in this state may take credit for reserves on risks ceded to a reinsurer pursuant to the provisions of sections 44-416.05 to 44-416.10 and any rules and regulations adopted and promulgated under such sections.
(2) Notwithstanding the provisions of subsection (1) of this section, any captive insurer may cede risks to a reinsurer not meeting the standards of sections 44-416.05 to 44-416.10 and may take reserve credits if the captive insurer receives prior written approval from the director.
Source
Laws 2007, LB117, § 46.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8213 - Membership in guaranty associations.

44-8213.
Membership in guaranty associations.
A captive insurer shall not be a member of the Nebraska Property and Liability Insurance Guaranty Association or the Nebraska Life and Health Insurance Guaranty Association. The Nebraska Property and Liability Insurance Guaranty Association Act and the Nebraska Life and Health Insurance Guaranty Association Act shall not be applicable to coverage offered by a captive insurer.
Source
Laws 2007, LB117, § 47.
Cross References
Nebraska Life and Health Insurance Guaranty Association Act, see section 44-2720.
Nebraska Property and Liability Insurance Guaranty Association Act, see section 44-2418.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8214 - Voluntary dissolution; approval of director required; effect of dissolution.

44-8214.
Voluntary dissolution; approval of director required; effect of dissolution.
The director shall approve any voluntary dissolution of a captive insurer if the director determines that all obligations of the captive insurer have been satisfied. The dissolution of a captive insurer shall not impair the right of any person to commence an action against the captive insurer for any liability previously incurred.
Source
Laws 2007, LB117, § 48.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8215 - Suspension or revocation of certificate of authority; administrative fine; grounds; notice; hearing; cease and desist order.

44-8215.
Suspension or revocation of certificate of authority; administrative fine; grounds; notice; hearing; cease and desist order.
(1) After notice and a hearing conducted pursuant to the Administrative Procedure Act, the director may suspend or revoke a certificate of authority or may impose an administrative fine not to exceed one thousand dollars per violation, or any combination of such actions, if the director finds the captive insurer:
(a) Engages in financial practices that make further transaction of business in this state hazardous or injurious to claimants or the public as defined by rule and regulation adopted and promulgated by the director;
(b) Within fifteen business days fails to respond to an inquiry of the director;
(c) Fails to pay any final judgment rendered against it in this state on any contractual obligation in a reasonable period of time;
(d) Conducts business fraudulently or has not met its contractual obligations in good faith; or
(e) Violates any provision of the laws of this or any other state.
(2) In lieu of or in addition to the administrative fines set forth in subsection (1) of this section, the director may issue a cease and desist order to a captive insurer if the captive insurer engages in any of the activities set forth in subsection (1) of this section.
Source
Laws 2007, LB117, § 49.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8218 - Applicability of insurance laws.

44-8218.
Applicability of insurance laws.
(1) The insurance laws of this state shall not apply to captive insurers except as permitted in the Captive Insurers Act.
(2) The following provisions of Chapter 44 apply to captive insurers:
(a) The Insurers Examination Act;
(b) Sections 44-101, 44-101.01, 44-102, 44-103, 44-114, 44-116, 44-154, 44-205.01, 44-231, 44-301, 44-318, 44-320, 44-326, and 44-360; and
(c) The Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act. Such act shall only apply to a captive insurer that provides insurance and reinsurance to a parent or affiliated entity that is an insurer.
Source
Laws 2007, LB117, § 52.
Cross References
Insurers Examination Act, see section 44-5901.
Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, see section 44-4862.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8302 - Purpose of act.

44-8302.
Purpose of act.
The purpose of the Discount Medical Plan Organization Act is to promote the public interest by establishing standards for discount medical plan organizations to protect consumers from unfair or deceptive marketing, sales, or enrollment practices and to facilitate consumer understanding of the role and function of discount medical plan organizations in providing access to medical or ancillary services.
Source
Laws 2008, LB855, § 34.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8304 - Control; presumption.

44-8304.
Control; presumption.
Control as used in the Discount Medical Plan Organization Act is presumed to exist if any person, directly or indirectly, owns, holds with the power to vote, or holds proxies representing ten percent or more of the voting securities of any other person. This presumption may be rebutted by a showing made in the manner provided in subsection (11) of section 44-2132 that control does not exist in fact. The director may determine, after furnishing all persons in interest notice and opportunity to be heard and making specific findings of fact to support the determination, that control exists in fact, notwithstanding the absence of a presumption to that effect.
Source
Laws 2008, LB855, § 36.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8305 - Applicability of act.

44-8305.
Applicability of act.
(1) The Discount Medical Plan Organization Act applies to all discount medical plan organizations doing business in or from this state.
(2) A discount medical plan organization that is a health carrier is not required to obtain a certificate of registration under section 44-8306, except that each of its affiliates that operates as a discount medical plan organization in this state shall obtain a certificate of registration under section 44-8306 and comply with all other provisions of the act. The discount medical plan organization is required to comply with sections 44-8308 to 44-8311 and report, in the form and manner as the director may require, any of the information described in subsection (2) of section 44-8313 that is not otherwise already reported.
(3) A provider who provides discounts to his or her own patients without any cost or fee of any kind to the patient is not required to obtain and maintain a certificate of registration under the act as a discount medical plan organization.
Source
Laws 2008, LB855, § 37.
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-8307 - Director; examination or investigation; powers; expenses.

44-8307.
Director; examination or investigation; powers; expenses.
(1) The director may examine or investigate the business and affairs of any discount medical plan organization to protect the interests of the residents of this state based on the following reasons, including, but not limited to, complaint indices, recent complaints, information from other states, or as the director deems necessary.
(2) An examination or investigation conducted as provided in subsection (1) of this section shall be performed in accordance with the provisions of the Insurers Examination Act.
(3) The director may:
(a) Order any discount medical plan organization or applicant that operates a discount medical plan organization to produce any records, books, files, advertising and solicitation materials, or other information; and
(b) Take statements under oath to determine whether the discount medical plan organization or applicant is in violation of the law or is acting contrary to the public interest.
(4) The discount medical plan organization or applicant that is the subject of the examination or investigation shall pay the expenses incurred in conducting the examination or investigation. Failure by the discount medical plan organization or applicant to pay such expenses is grounds for denial of a certificate of registration to operate as a discount medical plan organization or revocation of a certificate of registration to operate as a discount medical plan organization.
Source
Laws 2008, LB855, § 39.
Cross References
Insurers Examination Act, see section 44-5901.