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Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 76 - VIATICAL SETTLEMENTS › Section 210-76-010 - Severability

Current through June 17, 2024
If any section or portion of a section of this chapter, or
				  the applicability thereof to any person or circumstance, is held invalid by a
				  court, the remainder of this chapter, or the applicability of such provision to
				  other persons shall not be affected thereby.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 76 - VIATICAL SETTLEMENTS › Appendix A - VERIFICATION OF COVERAGE FOR LIFE INSURANCE POLICIES

Current through June 17, 2024
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Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-001 - Purpose and scope

Current through June 17, 2024
001.01 This
				regulation establishes standards for developing and implementing
				administrative, technical and physical safeguards to protect the security,
				confidentiality and integrity of customer information, pursuant to Sections
				501, 505(b), and 507 of the Gramm- Leach-Bliley Act, codified at
				15 U.S.C.
				6801,
				6805(b)
				and
				6807.
001.02 Section 501(a) provides that it is the
				policy of the Congress that each financial institution has an affirmative and
				continuing obligation to respect the privacy of its customers and to protect
				the security and confidentiality of those customers' nonpublic personal
				information. Section 501(b) requires the state insurance regulatory authorities
				to establish appropriate standards relating to administrative, technical and
				physical safeguards:
(1) to ensure the
				security and confidentiality of customer records and information;
(2) to protect against any anticipated
				threats or hazards to the security or integrity of such records; and
(3) to protect against unauthorized access to
				or use of records or information that could result in substantial harm or
				inconvenience to a customer.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-002 - Authority

Current through June 17, 2024
This Rule is promulgated under the authority vested in the
				  Director by Neb.Rev.Stat. §§
									44-101.01
				  and
				  44-924(2).
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-003 - Definitions

Current through June 17, 2024
For the purposes of Chapter 77, the following definitions
				  apply.
003.01 Customer
"Customer" has the same meaning as defined in
Neb.Rev.Stat.
§
										44-903(8).
003.02 Customer information
"Customer information" means nonpublic personal information
				  as defined in
Neb.Rev.Stat.
§
										44-903(19)
				   about a customer, whether in paper,
				  electronic or other form, that is maintained by or on behalf of the
				  licensee.
003.03 Customer
				information systems
"Customer information systems" means the electronic or
				  physical methods used to access, collect, store, use, transmit, protect or
				  dispose of customer information.
003.04 Licensee
"Licensee" means a licensee as that term is defined in
Neb.Rev.Stat.
§
										44-903(17),
				  except that "licensee" shall not include: a purchasing group; or an
				  unauthorized insurer in regard to the excess line business conducted pursuant
				  to the Surplus Lines Insurance Act.
003.05 Service provider
"Service provider" means a person that maintains, processes
				  or otherwise is permitted access to customer information through its provision
				  of services directly to the licensee.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-004 - Information Security Program

Current through June 17, 2024
Each licensee shall implement a comprehensive written
				  information security program that includes administrative, technical and
				  physical safeguards for the protection of customer information. The
				  administrative, technical and physical safeguards included in the information
				  security program shall be appropriate to the size and complexity of the
				  licensee and the nature and scope of its activities.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-005 - Objectives of Information Security Program

Current through June 17, 2024
A licensee's information security program shall be designed
				  to:
005.01 Ensure the security and
				confidentiality of customer information.
005.02 Protect against any anticipated
				threats or hazards to the security or integrity of the information;
				and
005.03 Protect against
				unauthorized access to or use of the information that could result in
				substantial harm or inconvenience to any customer.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-006 - Examples of Methods of Development and Implementation

Current through June 17, 2024
The actions and procedures described in Sections 007 through
				  010 of this regulation are examples of methods of implementation of the
				  requirements of Sections 004 and 005 of this regulation. These examples are
				  non-exclusive illustration of actions and procedures that licensees may follow
				  to implement Sections 004 and 005 of this regulation.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-007 - Assess Risk

Current through June 17, 2024
The licensee:
007.01
				Identifies reasonably foreseeable internal or external threats that could
				result in unauthorized disclosure, misuse, alteration or destruction of
				customer information or customer information systems;
007.02 Assesses the likelihood and potential
				damage of these threats, taking into consideration the sensitivity of customer
				information; and
007.03 Assesses
				the sufficiency of policies, procedures, customer information systems and other
				safeguards in place to control risks.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-008 - Manage and Control Risk

Current through June 17, 2024
The licensee
008.01
				Designs its information security program to control the identified risks,
				commensurate with the sensitivity of the information, as well as the complexity
				and scope of the licensee's activities;
008.02 Trains staff, as appropriate, to
				implement the licensee's information security program; and
008.03 Regularly tests or otherwise regularly
				monitors the key controls, systems and procedures of the information security
				program. The frequency and nature of these tests or other monitoring practices
				are determined by the licensee's risk assessment.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-009 - Oversee Service Provider Arrangements

Current through June 17, 2024
The licensee
009.01
				Exercises appropriate due diligence in selecting service providers;
				and
009.02 Requires its service
				providers to implement appropriate measures designed to meet the objectives of
				this regulation, and, where indicated by the licensee's risk assessment, takes
				appropriate steps to confirm that its service providers have satisfied these
				obligations.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-010 - Adjust the Program

Current through June 17, 2024
The licensee monitors, evaluates and adjusts, as appropriate,
				  the information security program in light of any relevant changes in
				  technology, the sensitivity of its customer information, internal or external
				  threats to information, and the licensee's own changing business arrangements,
				  such as mergers and acquisitions, alliances and joint ventures, outsourcing
				  arrangements and changes to customer information systems.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-011 - Determined Violation

Current through June 17, 2024
Violations of this regulation shall be enforced through the
				  Unfair Trade Practices Act,
Neb.Rev.Stat.
44-1522 et
				  seq.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 77 - STANDARDS FOR SAFEGUARDING CUSTOMER INFORMATION › Section 210-77-012 - Effective date

Current through June 17, 2024
Each licensee shall establish and implement an information
				  security program, including appropriate policies and systems pursuant to this
				  regulation by October 1, 2003.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-001 - Authority

Current through June 17, 2024
This Rule is promulgated under the authority vested in the
				  director of insurance by Neb.Rev.Stat. §
									44-404(a) (i) (c)
				   and Neb.Rev.Stat. §
									44-407.24(8),
				  and Title 210 Nebraska Administrative Code Chapter 71, Sections 005.01 and
				  005.02.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-002 - Purpose

Current through June 17, 2024
The purpose of this regulation is to recognize, permit and
				  prescribe the use of the 2001 Commissioners Standard Ordinary (CSO) Mortality
				  Table in accordance with Neb.Rev.Stat. §
									44-404(a) (i) (c)
				   and Neb.Rev.Stat. §
									44-407.24(8),
				  and Title 210 Nebraska Administrative Code Chapter 71, Sections 005.01 and
				  005.02.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-003 - Definitions

Current through June 17, 2024
For the purposes of this Chapter
003.01 2001 CSO Mortality Table
"2001 CSO Mortality Table" means that mortality table,
				  consisting of separate rates of mortality for male and female lives, developed
				  by the American Academy of Actuaries CSO Task Force from the Valuation Basic
				  Mortality Table developed by the Society of Actuaries Individual Life Insurance
				  Valuation Mortality Task Force, and adopted by the National Association of
				  Insurance Commissioners in December 2002. The 2001 CSO Mortality Table is
				  included in the Proceedings of the National Association of Insurance
				  Commissioners (2nd Quarter 2002) and is available for public inspection at the
				  offices of the Nebraska Department of Insurance, 941 "O" Street, Suite 400,
				  Lincoln, Nebraska 68509. Unless the context indicates otherwise, the "2001 CSO
				  Mortality Table" includes both the ultimate form of that table and the select
				  and ultimate form of that table and includes both the smoker and nonsmoker
				  mortality tables and the composite mortality tables. It also includes both the
				  age-nearest-birthday and age- last-birthday bases of the mortality
				  tables.
003.02 2001 CSO
				Mortality Table (F)
"2001 CSO Mortality Table (F)" means that mortality table
				  consisting of the rates of mortality for female lives from the 2001 CSO
				  Mortality Table.
003.03 2001
				CSO Mortality Table (M)
"2001 CSO Mortality Table (M)" means that mortality table
				  consisting of the rates of mortality for male lives from the 2001 CSO Mortality
				  Table.
003.04 Composite
				mortality tables
"Composite mortality tables" means mortality tables with
				  rates of mortality that do not distinguish between smokers and
				  nonsmokers.
003.05 CSO
"CSO" means Commissioners Standard Ordinary.
003.06 Smoker and nonsmoker mortality tables
"Smoker and nonsmoker mortality tables" means mortality
				  tables with separate rates of mortality for smokers and
				  nonsmokers.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-004 - 2001 CSO Mortality Table

Current through June 17, 2024
004.01 At the
				election of the company for any one or more specified plans of insurance and
				subject to the conditions stated in this regulation, the 2001 CSO Mortality
				Table may be used as the minimum standard for policies issued on or after
				January 1, 2004 and before the date specified in Subsection 004.02 to which
				Neb.Rev.Stat. §
									44-404(a) (i) (c)
				 and Neb.Rev.Stat. §
									44-407.24(8),
				and Title 210 Nebraska Administrative Code Chapter 71, Sections 005.01 and
				005.02 are applicable. If the company elects to use the 2001 CSO Mortality
				Table, it shall do so for both valuation and nonforfeiture purposes.
004.02 Subject to the conditions stated in
				this regulation, the 2001 CSO Mortality Table shall be used in determining
				minimum standards for policies issued on and after January 1, 2009, to which
				Neb.Rev.Stat. §
									44-404(a) (i) (c)
				 and Neb.Rev.Stat. §
									44-407.24(8),
				and Title 210 Nebraska Administrative Code Chapter 71, Sections 005.01 and
				005.02 are applicable.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-005 - Conditions

Current through June 17, 2024
005.01 For each
				plan of insurance with separate rates for smokers and nonsmokers an insurer may
				use:
005.01(1) Composite mortality tables to
				determine minimum reserve liabilities and minimum cash surrender values and
				amounts of paid-up nonforfeiture benefits;
005.01(2) Smoker and nonsmoker mortality
				tables to determine the valuation net premiums and additional minimum reserves,
				if any, required by Neb.Rev.Stat. §
										44-404(h)
				 and use composite mortality tables to
				determine the basic minimum reserves, minimum cash surrender values and amounts
				of paid- up nonforfeiture benefits; or
005.01(3) Smoker and nonsmoker mortality to
				determine minimum reserve liabilities and minimum cash surrender values and
				amounts of paid-up nonforfeiture benefits.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-006 - Applicability of the 2001 CSO Mortality Table to Title 210 Nebraska Administrative Code Chapter 71

Current through June 17, 2024
006.01 The 2001 CSO
				Mortality Table may be used in applying Title 210 Nebraska Administrative Code
				Chapter 71 in the following manner, subject to the transition dates for use of
				the 2001 CSO Mortality Table in Section 004 of this regulation (unless
				otherwise noted, the references in this section 006 are to Title 210 Nebraska
				Administrative Code Chapter 71):
006.01(1)
				Section 3A(2)(b): The net level reserve premium is based on the ultimate
				mortality rates in the 2001 CSO Mortality Table.
006.01(2) Section 4B: All calculations are
				made using the 2001 CSO Mortality Rate, and, if elected, the optional minimum
				mortality standard for deficiency reserves stipulated in Section 6A(4) of this
				regulation. The value of "qx+k+t-1" is the valuation mortality rate for
				deficiency reserves in policy year k+t, but using the unmodified select
				mortality rates if modified select mortality rates are used in the computation
				of deficiency reserves.
006.01(3)
				Section 5A: The 2001 CSO Mortality Table is the minimum standard for basic
				reserves.
006.01(4) Section 5B: The
				2001 CSO Mortality Table is the minimum standard for deficiency reserves. If
				select mortality rates are used, they may be multiplied by X percent for
				durations in the first segment, subject to the conditions specified in Sections
				5B(3)(a) to (i). In demonstrating compliance with those conditions, the
				demonstrations may not combine the results of tests that utilize the 1980 CSO
				Mortality Table with those tests that utilize the 2001 CSO Mortality Table,
				unless the combination is explicitly required by regulation or necessary to be
				in compliance with relevant Actuarial Standards of Practice.
006.01(5) Section 6C: The valuation mortality
				table used in determining the tabular cost of insurance shall be the ultimate
				mortality rates in the 2001 CSO Mortality Table.
006.01(6) Section 6E(4): The calculations
				specified in Section 6E shall use the ultimate mortality rates in the 2001 CSO
				Mortality Table.
006.01(7) Section
				6F(4): The calculations specified in Section 6F shall use the ultimate
				mortality rates in the 2001 CSO Mortality Table.
006.01(8) Section 6G(2): The calculations
				specified in Section 6G shall use the ultimate mortality rates in the 2001 CSO
				Mortality Table.
006.01(9) Section
				7A(1)(b): The one-year valuation premium shall be calculated using the ultimate
				mortality rates in the 2001 CSO Mortality Table.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-007 - Gender-Blended Tables

Current through June 17, 2024
007.01 For any
				ordinary life insurance policy delivered or issued for delivery in this state
				on and after January 1, 2004, that utilizes the same premium rates and charges
				for male and female lives or is issued in circumstances where applicable law
				does not permit distinctions on the basis of gender, a mortality table that is
				a blend of the 2001 CSO Mortality Table (M) and the 2001 CSO Mortality Table
				(F) may, at the option of the company for each plan of insurance, be
				substituted for the 2001 CSO Mortality Table for use in determining minimum
				cash surrender values and amounts of paid-up nonforfeiture benefits. No change
				in minimum valuation standards is implied by this subsection of the
				regulation.
007.02 The company may
				choose from among the blended tables developed by the American Academy of
				Actuaries CSO Task Force and adopted by the National Association of Insurance
				Commissioners in December 2002.
007.01 It shall not, in and of itself, be a
				violation of Neb.Rev.Stat §
									44-1525
				for an insurer to issue the same kind of policy of life insurance on both a
				sex-distinct and sex-neutral basis.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-008 - Severability

Current through June 17, 2024
If any provision of this regulation or its application to any
				  person or circumstance is for any reason held to be invalid, the remainder of
				  the regulation and the application of the provision to other persons or
				  circumstances shall not be affected.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 79 - RECOGNITION OF THE 2001 CSO MORTALITY TABLE FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS MODEL REGULATION › Section 210-79-009 - Effective Date

Current through June 17, 2024
The effective date of this regulation is January 1,
				  2004.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-001 - Authority

Current through June 17, 2024
This regulation is promulgated under the authority vested in
				  the Director of Insurance by Neb. Rev. Stat. §
									44-708.01(3).
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-002 - Purpose

Current through June 17, 2024
002.01 The purpose
				of this regulation is to implement Neb. Rev. Stat. §
									44-708.01
				by prescribing:
002.01A The terms and
				conditions under which life insurance companies may issue group annuity
				contracts and other agreements that in whole or in part establish the insurer's
				obligation by reference to a segregated portfolio of assets that is not owned
				by the insurer;
002.01B The
				essential operational features of the segregated portfolio of assets;
002.01C The reserve requirements for these
				group annuity contracts and agreements.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-003 - Scope and Application.

Current through June 17, 2024
003.01 This
				regulation applies to that portion of a group annuity contract or other
				agreement described in Section 004.24 and issued by a life insurer.
003.01A That functions as an accounting
				record for an accumulation fund; and
003.01B That has benefit guarantees relating
				to a principal amount and levels of interest at a fixed rate of return
				specified in advance.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-006 - Required Contract Provisions and Filing Requirements

Current through June 17, 2024
006.01 A contract
				may not be delivered or issued for delivery in this state unless the contract
				satisfies the requirements of Subsection 006.02 of this section and the issuing
				insurer has satisfied the requirements of Subsection 006.03 of this section
				with respect to the contract.
006.02 The contract shall:
006.02A Provide that the assets to which the
				contract pertains and for which a contract value record is established will be
				maintained in a segregated portfolio of a permitted custodial
				institution;
006.02B Grant the
				insurer the right to perform audits and inspections of assets held in the
				segregated portfolio from time to time upon reasonable notice to the permitted
				custodial institution;
006.02C
				Provide the insurer will receive prior notice of and the right to approve any
				appointment or change of investment managers;
006.02D Give a description of how the
				contract value record will be determined and, where applicable, adjusted by a
				crediting rate formula;
006.02E
				State the maximum rate period between crediting rate formula recalculations
				that will be permitted, if any;
006.02F Provide the insurer with the right to
				refuse to recognize any new deposits to the segregated portfolio unless there
				is a written agreement between the insurer and the contract holder as to the
				permissible levels and timing of new deposits;
006.02G Clearly specify the insurer's
				obligations under the contract and identify all circumstances under which
				insurer payments or advances to the contract holder are to be made;
006.02H Clearly identify the types of
				withdrawals made on a market value basis;
006.02I Provide either a fixed maturity
				schedule or a settlement option permitting the contract holder to receive the
				contract value record over time, provided that no unilateral contract
				termination event has occurred; and
006.02J Include a provision stating, or
				substantially similar to, the following:
"No waiver of remedies by the insurer that is a party to this
				  agreement, following the breach of any contractual provision of the agreement
				  or of the investment guidelines applicable to it, or failure to enforce the
				  provisions or guidelines, which constitutes grounds for termination of this
				  agreement for cause by the insurer, and is not cured within thirty (30) days
				  following the insurer's discovery of it, shall be effective against an
				  insurance director in any future rehabilitation or insolvency proceedings
				  against the insurer unless approved in advance in writing by the
				  director."
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-007 - Investment Management of the Segregated Portfolio

Current through June 17, 2024
007.01 The
				investment manager must have full responsibility for, and control over, the
				management of all segregated portfolio assets within the constraints specified
				in the investment guidelines.
007.02 The investment guidelines shall be
				submitted to the insurer for underwriting review before the contract becomes
				effective.
007.03 If the insurer
				accepts a proposed change to the investment guidelines or allows the contract
				to operate in accordance with investment guidelines not meeting the criteria
				established in Subsection
				005.03A(7),
				approval of the non-conforming investment guidelines must be obtained pursuant
				to Subsection 005.04.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-008 - Purchase of Annuities

Current through June 17, 2024
For contracts that are group annuity contracts, and that make
				  available to the contract holder the purchase of immediate or deferred
				  annuities for the benefit of individual members of the group, an annuity may
				  not be purchased without the delivery of the contractually-agreed upon
				  consideration in cash to the insurer from the segregated portfolio for
				  allocation to the insurer's general account or separate account. The insurer
				  shall collect adequate consideration for the cost of annuities purchased under
				  contract option by transfer from the segregated portfolio.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-009 - Unilateral Contract Terminations

Current through June 17, 2024
009.01 A contract
				subject to this regulation shall allow the insurer to unilaterally and
				immediately terminate, without future liability of the insurer or obligation to
				provide further benefits, upon the occurrence of any one of the following
				events that is material and that is not cured within thirty (30) days following
				the insurer's discovery of it:
009.01A The
				investment guidelines are changed without the advance consent of the insurer
				and the investment manager is not controlling, controlled by or under common
				control with the insurer;
009.01B
				The segregated portfolio, if managed by an entity that is not controlling,
				controlled by or under common control with the insurer, is invested in a manner
				that does not comply with the investment guidelines;
009.01C Investment discretion over the
				segregated portfolio is exercised by or granted to anyone other than the
				investment manager without the approval of the insurer; or
009.01D Any act of fraud, misrepresentation
				of material facts, deceit or any other unauthorized action of the contract
				holder that has a material adverse affect on the insurer.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 80 - SYNTHETIC GUARANTEED INVESTMENT CONTRACTS › Section 210-80-011 - Severability

Current through June 17, 2024
If any provision of this regulation or its application to any
				  person or circumstance is for any reason held to be invalid by a court of
				  competent jurisdiction, the remainder of the regulation and the application of
				  the provision to other persons or circumstances shall not be
				  affected.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 81 - CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 210-81-001 - Authority

Current through June 17, 2024
This Rule is promulgated by the Director of Insurance
				  pursuant to Neb.Rev.Stat. §
									44-101.01
				  and §
									44-5154.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 81 - CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Section 210-81-004 - Severability provision

Current through June 17, 2024
If any section or portion of a section of this rule or the
				  applicability thereof to any person or circumstance is held invalid by a court,
				  the remainder of the rule or the applicability of such provision to other
				  persons or circumstances shall not be affected thereby.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 81 - CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form A

Current through June 17, 2024
CUSTODIAN AFFIDAVIT
[For use by a custodian where securities entrusted to its
				  care have not been redeposited elsewhere.]
STATE OF________________ )
) ss.
COUNTY OF_________________ )
_____________________________, being duly sworn deposes and
				  states that he or she is_________________of_________________, a corporation
				  organized under and pursuant to the laws of the_____________ with the principal
				  place of business at___________________(hereinafter called the
				  "corporation"):
That his or her duties involve supervision of activities as
				  custodian and records relating thereto;
That the corporation is custodian for certain securities
				  of____________________ having a place of business
				  at______________________________________ (hereinafter called the "insurance
				  company") pursuant to an agreement between the corporation and the insurance
				  company;
That the schedule attached hereto is a true and complete
				  statement of securities (other than those caused to be deposited with The
				  Depository Trust Company or like entity or a Federal Reserve Bank under the
				  TRADES or Treasury Direct systems) which were in the custody of the corporation
				  for the account of the insurance company as of the close of business
				  on__________________; that, unless otherwise indicated on the schedule, the
				  next maturing and all subsequent coupons were then either attached to coupon
				  bonds or in the process of collection; and that, unless otherwise shown on the
				  schedule, all such securities were in bearer form or in registered form in the
				  name of the insurance company or its nominee or of the corporation or its
				  nominee, or were in the process of being registered in such form;
That the corporation as custodian has the responsibility for
				  the safekeeping of such securities as that responsibility is specifically set
				  forth in the agreement between the corporation as custodian and the insurance
				  company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to before me this_______day
				  ______________________(L.S.) of_____________, 20_____ Vice President or other
				  authorized officer
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 81 - CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form B

Current through June 17, 2024
CUSTODIAN AFFIDAVIT
[For use in instances where a custodian corporation maintains
				  securities on deposit with The Depository Trust Company or like entity.]
STATE OF___________________ )
) ss.
COUNTY OF____________________ )
__________________________________, being duly sworn deposes
				  and states that he or she is_________________of____________________, a
				  corporation organized under and pursuant to the laws of the____________________
				  with the principal place of business at______________________(hereinafter
				  called the "corporation"):
That his or her duties involve supervision of activities as
				  of the corporation as custodian and records relating thereto;
That the corporation is custodian for certain securities
				  of____________________ having a place of business
				  at______________________________________ (hereinafter called the "insurance
				  company") pursuant to an agreement between the corporation and the insurance
				  company;
That the corporation has caused certain of such securities to
				  be deposited with __________________and that the schedule attached hereto is a
				  true and complete statement of the securities of the insurance company of which
				  the corporation was custodian as of the close of business
				  on____________________, and which were so deposited on such date;
That the corporation as custodian has the responsibility for
				  the safekeeping of the securities both in the possession of the corporation or
				  deposited with ___________________as is specifically set forth in the agreement
				  between the corporation as custodian and the insurance company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to before me this______ day
				  __________________________(L.S.) of_______________, 20_____ Vice President or
				  other authorized officer
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 81 - CUSTODIAL AGREEMENTS AND THE USE OF CLEARING CORPORATIONS › Form C

Current through June 17, 2024
CUSTODIAN AFFIDAVIT
[For use where ownership is evidenced by book entry at a
				  Federal Reserve Bank.]
STATE OF_____________________ )
) ss.
COUNTY OF_____________________ )
__________________________________, being duly sworn deposes
				  and states that he or she is_________________of____________________, a
				  corporation organized under and pursuant to the laws of the___________________
				  with the principal place of business at_________________________(hereinafter
				  called the "corporation"):
That his or her duties involve supervision of activities of
				  the corporation as custodian and records relating thereto;
That the corporation is custodian for certain securities
				  of_______________________ having a place of business
				  at______________________________ (hereinafter called the "insurance company")
				  pursuant to an agreement between the corporation and the insurance
				  company;
That it has caused certain securities to be credited to its
				  book-entry account with the Federal Reserve Bank of____________________under
				  the TRADES or Treasury Direct systems; and that the schedule attached hereto is
				  a true and complete statement of securities of the insurance company of which
				  the corporation was custodian as of the close of business on______________,
				  which were in a "general" book-entry account maintained in the name of the
				  corporation on the books and records of the Federal Reserve Bank
				  of__________________________at such date;
That the corporation has the responsibility for the
				  safekeeping of such securities both in the possession of the corporation or in
				  the "general" book-entry account as is specifically set forth in the agreement
				  between the corporation as custodian and the insurance company; and
That, to the best of his or her knowledge and belief, unless
				  otherwise shown on the schedule, the securities were the property of the
				  insurance company and were free of all liens, claims or encumbrances
				  whatsoever.
Subscribed and sworn to before me this______day
				  ______________________________(L.S.) of_____________, 20____ Vice President or
				  other authorized officer
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-002 - Purpose

Current through June 17, 2024
This Rule is promulgated protect active duty service members
				  of the United States Armed Forces from dishonest and predatory insurance sales
				  practices by declaring certain identified practices to be false, misleading,
				  deceptive or unfair; nothing contained herein creates or implies private causes
				  of action for any violations.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-003 - Scope

Current through June 17, 2024
This Rule applies only to the solicitation or sale of any
				  life insurance or annuity product by an insurer or insurance producer to an
				  active duty service member of the United States Armed Forces
				  (USAF).
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-004 - Exemptions

Current through June 17, 2024
004.01 This rule does not apply to
				solicitations or sales involving:
004.01A
				Credit insurance;
004.01B Group
				life insurance or group annuities where there is no face-to-face solicitation
				of individuals by an insurance producer or where the contract or certificate
				does not include a side fund;
004.01C An application to the insurer that
				issued the existing policy or contract when a contractual change or a
				conversion privilege is being exercised; when the existing policy or contract
				is replaced by the same insurer pursuant to a program filed with and approved
				by the commissioner; or, when a term conversion privilege is exercised among
				corporate affiliates;
004.01D
				Individual stand-alone health and disability income policies;
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-005 - Definitions

Current through June 17, 2024
As used in this rule:
005.01 "Active Duty" carries the same
				definition as that included in
				38
				U.S.C. §
										1965(1)
005.02 "Department of Defense
				(DoD) Personnel" means all active duty service members and all civilian
				employees, including nonappropriated fund employees and special government
				employees, of the Department of Defense.
005.03 "Door to Door" means a solicitation or
				sales method whereby an insurance producer proceeds randomly or selectively
				from household to household without prior specific appointment.
005.04 "General Advertisement" means an
				advertisement having as its sole purpose the promotion of the viewer's interest
				in the concept of insurance, the promotion of the insurer or the insurance
				producer.
005.05 "Insurer" means an
				insurance company required to be licensed under Nebraska laws to provide life
				insurance products, including annuities.
005.06 "Insurance producer" carries the same
				definition as that set out in Neb. Rev .Stat. §
									44-103(10)
005.07 "Known" or "Knowingly"
				means, depending on its use, the insurance producer or insurer had actual
				awareness, or in the exercise of ordinary care should have known, at the time
				of the act or practice complained of, that the person solicited is a service
				members
005.08 "Life Insurance"
				means insurance coverage on human lives including benefits of endowmen and may
				include;
(a) benefits in the event of death
				or dismemberment by accident; and
(b) benefits for disability income;
				and
(c) individually issued
				annuities unless otherwise excluded.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-006 - Practices Declared False. Misleading Deceptive or Unfair on a Military Installation

Current through June 17, 2024
006.01 The
				following acts or practices when committed on a military installation by an
				insurer or insurance producer are declared to be false, misleading, deceptive
				or unfair:
006.01(A) Knowingly
				soliciting any life insurance product "door to door" or without first
				establishing a specific appointment with the prospective purchaser.
006.01(B) Soliciting service members in a
				group or "mass" "captive" audience where attendance is not voluntary.
006.01(C) Knowingly making appointments with
				or soliciting service members during their normally scheduled duty
				hours.
006.01(D) Making
				appointments with or soliciting service members in barracks, day rooms, unit
				areas, or transient personnel housing or any areas where the installation
				commander has barred solicitation.
006.01(E) Soliciting the sale of life
				insurance without first obtaining permission from the installation commander or
				the commander's designee.
006.01(F)
				Posting unauthorized bulletins, notices or advertisements.
006.01(G) Failing to present DD Form 2885,
Personal Commercial Solicitation Evaluation
to service members
				solicited or encouraging service members solicited not to complete or submit a
				DD Form 2885.
006.01(H) Knowingly
				accepting an application for life insurance or issuing a policy of life
				insurance on the life of an enlisted member of the USAF without first obtaining
				a completed copy of all forms which confirms that the applicant has received
				counseling or fulfilled any similar requirements for the sale of life insurance
				established by regulations, directives or rules of the DoD or any branch of the
				USAF.
006.01(I) Using DoD
				personnel, directly or indirectly, as a representative or agent in any official
				or business capacity with or without compensation with respect to the
				solicitation or sale of life insurance to service members.
006.01(J) Having an insurance producer
				participate in any USAF sponsored education or orientation program.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 82 - MILITARY SALES PRACTICES › Section 210-82-008 - Severability

Current through June 17, 2024
If any provision of this Rule or the application there is
				  held invalid for any reason, the invalidity will not affect the other
				  provisions or any other application there which can be given effect without the
				  invalid provisions. To this end all provisions are declared to be
				  severable.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 83 - Preneed Life Insurance Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values Model Regulation › Section 210-83-001 - Statutory Authority

Current through June 17, 2024
This regulation is promulgated pursuant to the authority
				  granted by NEB. REV. STAT. §§
									44-101.01,
				  44-404,
				  and
				  44-420
				  to
				  44-427.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 83 - Preneed Life Insurance Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values Model Regulation › Section 210-83-002 - Scope

Current through June 17, 2024
This regulation applies to preneed insurance contracts, as
				  defined in section 004 of this regulation, and to similar policies and
				  certificates.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 83 - Preneed Life Insurance Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values Model Regulation › Section 210-83-003 - Purpose

Current through June 17, 2024
The purpose of this regulation is to establish for preneed
				  insurance products minimum mortality standards for reserves and nonforfeiture
				  values, and to require the use of the 1980 Commissioners' Standard Ordinary
				  (CSO) Life Valuation Mortality Table for use in determining the minimum
				  standard of valuation of reserves and the minimum standard nonforfeiture values
				  for preneed insurance products.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 83 - Preneed Life Insurance Minimum Standards for Determining Reserve Liabilities and Nonforfeiture Values Model Regulation › Section 210-83-004 - Definitions

Current through June 17, 2024
004.01 2001 CSO
				Mortality Table
"2001 CSO Mortality Table" means that mortality table,
				  consisting of separate rates of mortality for male and female lives, developed
				  by the American Academy of Actuaries CSO Task Force from the Valuation Basic
				  Mortality Table developed by the Society of Actuaries Individual Life Insurance
				  Valuation Mortality Task Force, and adopted by the NAIC in December 2002. The
				  2001 CSO Mortality Table is included in the Proceedings of the NAIC (2nd
				  Quarter 2002). Unless the context indicates otherwise, the "2001 CSO Mortality
				  Table" includes both the ultimate form of that table and the select and
				  ultimate form of that table and includes both the smoker and nonsmoker
				  mortality tables and the composite mortality tables. It also includes both the
				  age-nearest-birthday and age-last-birthday bases of the mortality
				  tables.
004.02 Ultimate 1980
				CSO
"Ultimate 1980 CSO" means the Commissioners' 1980 Standard
				  Ordinary Life Valuation Mortality Tables (1980 CSO) without ten-year (10-year)
				  selection factors, incorporated into the 1980 amendments to the NAIC Standard
				  Valuation Law approved in December 1983.
004.03 Preneed insurance
"Preneed insurance," for the purposes of this regulation,
				  shall mean any life insurance policy or certificate that is issued in
				  combination with, in support of, with an assignment to, or as a guarantee for a
				  prearrangement contract or agreement for goods and services to be provided at
				  the time of and immediately following the death of the insured. Goods and
				  services may include, but are not limited to embalming, cremation, body
				  preparation, viewing or visitation, coffin or urn, memorial stone, and
				  transportation of the deceased. The status of the policy or contract as preneed
				  insurance is determined at the time of issue in accordance with the policy form
				  filing.