reglab/statecodes huggingface dataset:
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 54 - REGULATION TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF MEDICARE CATASTROPHIC COVERAGE ACT › Section 210-54-008 - Requirements for new policies and certificates

Current through June 17, 2024
008.01 Effective
				January 1, 1990, no Medicare supplement insurance policy, contract or
				certificate shall be delivered or issued for delivery in this State which
				provides benefits which duplicate benefits provided by Medicare. No such
				policy, contract or certificate shall provide less benefits than those required
				under the existing Medicare Supplement Insurance Minimum Standards Act or
				Regulation except where duplication of Medicare benefits would result and
				except as required by these transition provisions.
008.02 General Requirements
008.02A Within ninety (90) days of the
				effective date of this regulation, every insurer, health care service plan or
				other entity required to file its policies or contracts with this State shall
				file new Medicare supplement insurance policies or contracts which eliminate
				any duplication of Medicare supplement benefits with benefits provided by
				Medicare, which adjust minimum required benefits to changes in Medicare
				benefits and which provides a clear description of the policy or contract
				benefit.
008.02B The filing
				required under
sub
section
				006.01A shall
				provide for loss ratios which are in compliance with all minimum
				standards.
008.02C Every applicant
				for a Medicare supplement insurance policy, contract or certificate shall be
				provided with an outline of coverage which simplifies and accurately describes
				benefits provided by Medicare and policy or contract benefits along with
				benefit limitations.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 54 - REGULATION TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF MEDICARE CATASTROPHIC COVERAGE ACT › Section 210-54-009 - Filing requirements for advertising

Current through June 17, 2024
Every insurer, health care service plan or other entity
				  providing Medicare supplement insurance or benefits in this State shall provide
				  a copy of any advertisement intended for use in this State, whether through
				  written, radio or television medium to the Director of this state for review or
				  approval by the Director to the extent it may be required under state law. Such
				  advertisement shall comply with all applicable laws of this
				  State.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 54 - REGULATION TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF MEDICARE CATASTROPHIC COVERAGE ACT › Section 210-54-010 - Buyer's guide

Current through June 17, 2024
No insurer, health care service plan or other entity shall
				  make use of or otherwise disseminate any Buyer's Guide or informational
				  brochure which does not accurately outline current Medicare benefits and which
				  has not been adopted by the Director.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 54 - REGULATION TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF MEDICARE CATASTROPHIC COVERAGE ACT › Section 210-54-011 - Severability

Current through June 17, 2024
If any provision of this regulation or the application
				  thereof to any person or circumstances is for any reason held to be invalid,
				  the remainder of the regulation and the application 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 54 - REGULATION TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF MEDICARE CATASTROPHIC COVERAGE ACT › Section 210-54-012 - Effective date

Current through June 17, 2024
This regulation shall become operative on January 1,
				  1990.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-001 - Authority

Current through June 17, 2024
This rule is adopted and promulgated by the Director of the
				  Nebraska Department of Insurance pursuant to Neb. Rev. Stat. §§
									44-101.01
				  and
				  44-4801
				  et seq. of the Nebraska Insurance Code.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-002 - Purpose

Current through June 17, 2024
The purpose of this rule is to set forth the standards which
				  the Director may use for identifying insurers found to be in such condition as
				  to render the continuance of their business hazardous to their policyholders,
				  creditors or the general public as provided for in Neb. Rev. Stat. §§
									44-4809,
				  44-4810,
				  44-4812
				  and
				  44-4817.
This rule shall not be interpreted to limit the powers
				  granted to the Director by any laws or parts of laws of this state, nor shall
				  this rule be interpreted to supersede any laws or parts of laws of this
				  state.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-005 - Director's authority

Current through June 17, 2024
005.01 For the
				purposes of making a determination of an insurer's financial condition under
				this rule, the Director may:
005.01A
				Disregard any credit or amount receivable resulting from transactions with a
				reinsurer that is insolvent, impaired or otherwise subject to a delinquency
				proceeding;
005.01B Make
				appropriate adjustments including disallowance to asset values attributable to
				investments in or transactions with parents, subsidiaries, or affiliates
				consistent with the NAIC Accounting Practices and Procedures Manual, state laws
				and rules;
005.01C Refuse to
				recognize the stated value of accounts receivable if the ability to collect
				receivables is highly speculative in view of the age of the account or the
				financial condition of the debtor; or
005.01D Increase the insurer's liability in
				an amount equal to any contingent liability, pledge, or guarantee not otherwise
				included if there is a substantial risk that the insurer will be called upon to
				meet the obligation undertaken within the next twelve-month period.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-006 - Administrative and Judicial Review

Current through June 17, 2024
Any decision or order of the Director pursuant to this rule
				  shall be subject to an administrative hearing and judicial review in accordance
				  with the Administrative Procedure Act at the instance of any party to the
				  proceedings whose interests are substantially affected.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-007 - Severability

Current through June 17, 2024
If any provisions of this rule be held invalid, the remainder
				  shall not be affected.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 55 - RULE TO DEFINE STANDARDS AND DIRECTOR'S AUTHORITY FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION › Section 210-55-008 - Effective Date

Current through June 17, 2024
This regulation shall become effective January 1,
				  2011.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-001 - Authority

Current through June 17, 2024
This Rule is promulgated by the Director of Insurance
				  pursuant to Neb. Rev. Stat. §§
									44-101.01,
				  44-322,
				  44-1097,
				  44-1207,
				  and
				  44-32,162.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-002 - Purpose

Current through June 17, 2024
002.01 The purpose
				of this Rule is to improve the Nebraska Insurance Department's surveillance of
				the financial condition of Insurers by requiring (1) an annual audit of
				financial statements reporting the financial position and the results of
				operations of Insurers by independent certified public accountants, (2)
				Communication of Internal Control Related Matters Noted in an Audit, (3)
				Management's Report of Internal Control over Financial Reporting.
002.02 This Rule shall apply to all Insurers
				as defined in Section 003.09. Insurers having direct premiums written in this
				state of less than $1,000,000 in any calendar year and less than 1,000
				policyholders or certificate holders of direct written policies nationwide at
				the end of the calendar year shall be exempt from this Rule for the year
				(unless the Director makes a specific finding that compliance is necessary for
				the Director to carry out statutory responsibilities) except that the Insurers
having assumed premiums pursuant to contracts and/or treaties of
reinsurance of $1,000,000 or more will not be so exempt.
002.02(a) Assessment associations subject to
Neb. Rev. Stat.
§
										44-801
et. seq.
shall be exempt from the requirements of this
				Rule unless the assessment association is operating in or licensed in another
				state.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-004 - General requirements related to filing and extensions for filing of annual Audited financial reports and Audit committee appointment

Current through June 17, 2024
004.01 All Insurers shall have an annual
				audit by an independent certified public accountant and shall file an Audited
				financial report with the Director on or before June 1 for the year ended
				December 31 immediately preceding. The Director may require an Insurer to file
				an Audited financial report earlier than June 1 with ninety (90) days advance
				notice to the Insurer.
004.02
				Extensions of the June 1 filing date may be granted by the Director for
				thirty-day periods upon a showing by the Insurer and its independent certified
				public accountant of the reasons for requesting such extension and a
				determination by the Director of good cause for the extension. The request for
				extension must be submitted in writing not less than ten (10) days prior to the
				due date in sufficient detail to permit the Director to make an informed
				decision with respect to the requested extension.
004.03 If an extension is granted in
				accordance with the provisions in Section 004.02, a similar extension of thirty
				(30) days is granted to the filing of Management's Report of Internal Control
				over Financial Reporting.
004.04
				Every Insurer required to file an annual Audited financial report pursuant to
				this Rule shall designate a group of individuals as constituting its Audit
				committee, as defined in Section 003. The Audit committee of an entity that
				controls an Insurer may be deemed to be the Insurer's Audit committee for
				purposes of this Rule at the election of the controlling person.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-005 - Contents of annual Audited financial report

Current through June 17, 2024
The annual Audited financial report shall report the
				  financial position of the Insurer as of the end of the most recent calendar
				  year and the results of its operations, cash flows and changes in capital and
				  surplus for the year then ended in conformity with statutory accounting
				  practices prescribed, or otherwise permitted, by the Department of Insurance of
				  the state of domicile. The annual Audited financial report shall include the
				  following:
005.01 Report of independent
				certified public accountant.
005.02
				Balance sheet reporting admitted assets, liabilities, capital and
				surplus.
005.03 Statement of
				operations.
005.04 Statement of
				cash flows.
005.05 Statement of
				changes in capital and surplus.
005.06 Notes to financial statements. These
				notes shall be those required by the appropriate NAIC Annual Statement
				Instructions and the NAIC Accounting Practices and Procedures Manual. The notes
				shall include a reconciliation of differences, if any, between the audited
				statutory financial statements and the annual statement filed pursuant to
Neb. Rev. Stat.
§
									44-322
				with a written description of the nature of these differences.
005.07 The financial statements included in
				the Audited financial report shall be prepared in a form and using language and
				groupings substantially the same as the relevant sections of the annual
				statement of the Insurer filed with the Director, and the financial statements
				shall be comparative, presenting the amounts as of December 31 of the current
				year and the amounts as of the immediately preceding December 31. However, in
				the first year in which an Insurer is required to file an Audited financial
				report, the comparative data may be omitted.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-007 - Qualifications of independent certified public accountant

Current through June 17, 2024
007.01 The Director
				shall not recognize any person or firm as a qualified independent certified
				public accountant if the person or firm:
007.01(a) Is not in good standing with the
				AICPA and in all states in which the accountant is licensed to practice, or,
				for a Canadian or British company, that is not a chartered accountant;
				or
007.01(b) Has either directly or
				indirectly entered into an agreement of indemnity or release from liability
				(collectively referred to as Indemnification) with respect to the audit of the
				Insurer.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-008 - Consolidated or combined audits

Current through June 17, 2024
An Insurer may make written application to the Director for
				  approval to file audited consolidated or combined financial statements in lieu
				  of separate annual audited financial statements if the Insurer is part of a
				  group of insurance companies which utilizes a pooling or one hundred percent
				  reinsurance agreement that affects the solvency and integrity of the Insurer's
				  reserves and such Insurer cedes all of its direct and assumed business to the
				  pool. In such cases, a columnar consolidating or combining worksheet shall be
				  filed with the report, as follows:
008.01 Amounts shown on the consolidated or
				combined Audited financial report shall be shown on the worksheet;
008.02 A mounts for each Insurer subject to
				this section shall be stated separately;
008.03 Noninsurance operations may be shown
				on the worksheet on a combined or individual basis;
008.04 Explanations of consolidating and
				eliminating entries shall be included; and
008.05 A reconciliation shall be included of
				any differences between the amounts shown in the individual Insurer columns of
				the worksheet and comparable amounts shown on the annual statements of the
				Insurers.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-009 - Scope of audit and report of independent certified public accountant

Current through June 17, 2024
Financial statements furnished pursuant to Section 005 hereof
				  shall be examined by an independent certified public accountant. The
				  examination of the Insurer's financial statements shall be conducted in
				  accordance with generally accepted auditing standards. In accordance with AU
				  Section 319 of the Professional Standards of the AICPA, Consideration of
				  Internal Control in a Financial Statement Audit, the independent certified
				  public accountant should obtain an understanding of internal control sufficient
				  to plan the audit. To the extent required by AU 319, for those Insurers
				  required to file a Management's Report of Internal Control over Financial
				  Reporting pursuant to Section 017, the independent certified public accountant
				  should consider (as that term is defined in Statement on Auditing Standards
				  (SAS) No. 102, Defining Professional Requirements in Statements on Auditing
				  Standards or its replacement) the most recently available report in planning
				  and performing the audit of the statutory financial statements. Consideration
				  shall be given to the procedures illustrated in the Financial Condition
				  Examiner's Handbook promulgated by the NAIC as the independent certified public
				  accountant deems necessary
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-010 - Notification of adverse financial condition

Current through June 17, 2024
010.01 The Insurer
				required to furnish the annual Audited financial report shall require the
				independent certified public accountant to report in writing, within five (5)
				business days to the board of directors or its Audit committee, any
				determination by the independent certified public accountant that the Insurer
				has materially misstated its financial condition as reported to the Director as
				of the balance sheet date currently under audit or that the Insurer does not
				meet the minimum capital and surplus requirement of the Nebraska insurance
				statutes as of that date. An Insurer who has received a report pursuant to this
				paragraph shall forward a copy of the report to the Director within five (5)
				business days of receipt of such report and shall provide the independent
				certified public accountant making the report with evidence of the report being
				furnished to the Director. If the independent certified public accountant fails
				to receive such evidence within the required five (5) business day period, the
				independent certified public accountant shall furnish to the Director a copy of
				its report within the next five (5) business days.
010.02 No independent certified public
				accountant shall be liable in any manner to any person for any statement made
				in connection with the above paragraph if such statement is made in good faith
				in compliance with Section 010.01.
010.03 If the accountant, subsequent to the
				date of this Audited financial report filed pursuant to this Rule, becomes
				aware of facts which might have affected his report, the Department notes the
				obligation of the accountant to take such action as prescribed in Volume 1,
				Section AU 561 of the Professional Standards of the AICPA; as amended
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-011 - Communication of internal control related matter noted in an audit

Current through June 17, 2024
011.01 In addition
				to the annual Audited financial report, each Insurer shall furnish the Director
				with a written communication as to any unremediated material weaknesses in its
				Internal control over financial reporting noted during the audit. Such
				communication shall be prepared by the accountant within sixty (60) days after
				the filing of the annual Audited financial report, and shall contain a
				description of any unremediated material weakness (as the term material
				weakness is defined by Statement on Auditing Standard 60, Communication of
				Internal Control Related Matters Noted in an Audit, or it replacement) as of
				December 31 immediately preceding (so as to coincide with the Audited financial
				reporting noted by the accountant during the course of their audit of the
				financial statements. If no unremediated material weaknesses were noted, the
				communication should so state.
011.02 The Insurer is required to provide a
				description of remedial actions taken or proposed to correct unremediated
				material weakness, if such actions are not described in the accountant's
				communication.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-012 - Accountant's letter of qualifications

Current through June 17, 2024
The accountant shall furnish the Insurer in connection with,
				  and for inclusion in, the filing of the annual Audited financial report, a
				  letter stating:
012.01 That the
				accountant is independent with respect to the Insurer and conforms to the
				standards of his or her profession as contained in the Code of Professional
				Ethics and pronouncements of the AICPA and the Rules of Professional Conduct of
				the Nebraska Board of Public Accountancy, or similar code;
012.02 The background and experience in
				general, and the experience in audits of Insurers of the staff assigned to the
				engagement and whether each is an independent certified public accountant.
				Nothing within this Rule shall be construed as prohibiting the accountant from
				utilizing such staff as he or she deems appropriate where use is consistent
				with the standards prescribed by generally accepted auditing
				standards;
012.03 That the
				accountant understands the Annual financial report and his opinion thereon will
				be filed in compliance with this Rule and that the Director will be relying on
				this information in the monitoring and regulation of the financial position of
				Insurers;
012.04 That the
				accountant consents to the requirements of Section 013 of this Rule and that
				the accountant consents and agrees to make available for review by the
				Director, or the Director's designee or appointed agent, the workpapers, as
				defined in Section 013;
012.05 A
				representation that the accountant is properly licensed by an appropriate state
				licensing authority and is a member in good standing in the AICPA;
				and
012.06 A representation that
				the accountant is in compliance with the requirements of Section 007 of this
				Rule.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-013 - Definition, availability and maintenance of independent certified public accountant work papers

Current through June 17, 2024
013.01 Work papers
				are the records kept by the independent certified public accountant of the
				procedures followed, the tests performed, the information obtained, and the
				conclusions reached pertinent to the accountant's audit of the financial
				statements of an Insurer. Work papers, accordingly, may include audit planning
				documentation, work programs, analyses, memoranda, letters of confirmation and
				representation, abstracts of company documents and schedules or commentaries
				prepared or obtained by the independent certified accountant in the course of
				his or her audit of the financial statements of an Insurer and which support
				the accountant's opinion.
013.02
				Every Insurer required to file an Audited financial report pursuant to this
				Rule shall require the accountant, to make available for review by Department
				examiners, all work papers prepared in the conduct of the accountant's audit
				and any communications related to the audit between the accountant and the
				Insurer, at the offices of the Insurer, at the Department or at any other
				reasonable place designated by the Director. The Insurer shall require that the
				accountant retain the audit work papers and communications until the Department
				has filed a report of examination covering the period of the audit but no
				longer than seven (7) years from the date of the audit report.
013.03 In the conduct of the aforementioned
				periodic review by the Department examiners, it shall be agreed that
				photocopies of pertinent audit work papers may be made and retained by the
				Department. Such reviews by the Department examiners shall be considered
				investigations and all working papers and communications obtained during the
				course of such investigations shall be afforded the same confidentiality as
				other examination work papers generated by the Department.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-015 - Internal Audit Function Requirements

Current through June 17, 2024
015.01 Exemption
An insurer is exempt from the requirements of this section
				  if:
015.01(a) The insurer has annual
				direct written and unaffiliated assumed premium, including international direct
				and assumed premium but excluding premiums reinsured with the Federal Crop
				Insurance Corporation and Federal Flood Program, less than $500,000,000;
				and,
015.01(b) If the insurer is a
				member of a group of insurers, the group has annual direct written and
				unaffiliated assumed premium including international direct and assumed
				premium, but excluding premiums reinsured with the Federal Crop Insurance
				Corporation and Federal Flood Program, less than $1,000,000,000.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-016 - Conduct of Insurer in connection with the preparation of required reports and documents

Current through June 17, 2024
016.01 No director
				or officer of an Insurer shall, directly or indirectly:
016.01(a) Make or cause to be made a
				materially false or misleading statement to an accountant in connection with
				any audit, review or communication required under this Rule; or
016.01(b) Omit to state, or cause another
				person to omit to state, any material fact necessary in order to make
				statements made, in light of the circumstances under which the statements were
				made, not misleading to an accountant in connection with any audit, review or
				communication required under this Rule.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-018 - Exemptions and effective dates

Current through June 17, 2024
018.01 Upon written
				application of any Insurer, the Director may grant an exemption from compliance
				with any and all provisions of this Rule if the Director finds, upon review of
				the application, that compliance with this Rule would constitute a financial or
				organizational hardship upon the Insurer. An exemption may be granted at any
				time and from time to time for a specified period or periods. Within ten (10)
				days from a denial of an Insurer's written request for an exemption from this
				Rule, such Insurer may request in writing a hearing on its application for an
				exemption. Such hearing shall be held in accordance with the Nebraska
				Administrative Procedure Act,
Neb. Rev. Stat
. §
									84-901
				et. seq. and Title 210, Nebraska Administrative Code, Chapter 26.
018.02 Domestic Insurers retaining a
				certified public accountant on the effective date of this Rule who qualify as
				independent shall comply with this Rule for the year ending December 31, 2009
				and each year thereafter unless the Director permits otherwise.
018.03 Domestic Insurers not retaining a
				certified public accountant on the effective date of this Rule who qualifies as
				independent may meet the following schedule for compliance unless the Director
				permits otherwise.
018.03(a) As of December
				31, 2009, file with the Director an Audited financial report.
018.03(b) For the year ending December 31,
				2009 and each year thereafter, such Insurers shall file with the Director all
				reports and communication required by this Rule.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-019 - Canadian and British companies

Current through June 17, 2024
If any Section or portion of a Section of this Rule or its
				  applicability 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.
019.01 In the case of Canadian and British
				Insurers, the annual Audited financial report shall be defined as the annual
				statement of total business on the form filed by such companies with their
				supervision authority duly audited by an independent chartered
				accountant.
019.02 For such
				Insurers, the letter required in Section 006.02 shall state that the accountant
				is aware of the requirements relating to the annual Audited financial report
				filed with the Director pursuant to Section 004 and shall affirm that the
				opinion expressed is in conformity with such requirements.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 56 - ANNUAL AUDITED FINANCIAL REPORTS › Section 210-56-020 - Severability provision

Current through June 17, 2024
If any Section or portion of a Section of this Rule or its
				  applicability 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.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 57 - LIFE AND HEALTH REINSURANCE AGREEMENTS › Section 210-57-001 - Authority

Current through June 17, 2024
This regulation is adopted and promulgated by the Director of
				  Insurance of the State of Nebraska pursuant to
Neb. Rev.
				  Stat
. §§
									44-101.01
				  and
				  44-416.04.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 57 - LIFE AND HEALTH REINSURANCE AGREEMENTS › Section 210-57-002 - Preamble

Current through June 17, 2024
002.01 The Nebraska
				Insurance Department recognizes that licensed insurers routinely enter into
				reinsurance agreements that yield legitimate relief to the ceding insurer from
				strain to surplus.
002.02 However,
				it is improper for a licensed insurer, in the capacity of ceding insurer, to
				enter into reinsurance agreements for the principal purpose of producing
				significant surplus aid for the ceding insurer, typically on a temporary basis,
				while not transferring all of the significant risks inherent in the business
				being reinsured. In substance or effect, the expected potential liability to
				the ceding insurer remains basically unchanged by the reinsurance transaction,
				notwithstanding certain risk elements in the reinsurance agreement, such as
				catastrophic mortality or extraordinary survival. The terms of such agreements
				referred to herein and described in Section 004 violate:
002.02(a)
Neb. Rev.
				Stat.
§
										44-322
				relating to financial statements which do not properly reflect the financial
				condition of the ceding life insurer;
002.02(b)
Neb. Rev.
				Stat.
§§
										44-416.01
				through
				44-416.03
				relating to reinsurance reserve credits, thus resulting in a ceding insurer
				improperly reducing liabilities or establishing assets for reinsurance ceded;
				and
002.02(c)
Neb. Rev.
				Stat.
§§
										44-4809,
				44-4812,
				and
				44-4817
				relating to creating a situation that may be hazardous to policyholders and the
				people of this State.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 57 - LIFE AND HEALTH REINSURANCE AGREEMENTS › Section 210-57-003 - Scope

Current through June 17, 2024
This regulation shall apply to all domestic life and accident
				  and health insurers and to all other licensed life and accident and health
				  insurers which are not subject to a substantially similar regulation in their
				  domiciliary state. This regulation shall also similarly apply to licensed
				  property and casualty insurers with respect to their accident and health
				  business. This regulation shall not apply to assumption reinsurance, yearly
				  renewable term reinsurance or certain nonproportional reinsurance such as stop
				  loss or catastrophe reinsurance.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 57 - LIFE AND HEALTH REINSURANCE AGREEMENTS › Section 210-57-005 - Written agreements

Current through June 17, 2024
005.01 No
				reinsurance agreement or amendment to any agreement may be used to reduce any
				liability or to establish any asset in any financial statement filed with the
				Department, unless the agreement, amendment or a binding letter of intent has
				been duly executed by both parties no later than the "as of date" of the
				financial statement.
005.02 In the
				case of a letter of intent, a reinsurance agreement or an amendment to a
				reinsurance agreement must be executed within a reasonable period of time, not
				exceeding ninety (90) days from the execution date of the letter of intent, in
				order for credit to be granted for the reinsurance ceded.
005.03 The reinsurance agreement shall
				contain provisions which provide that:
005.03(a) The agreement shall constitute the
				entire agreement between the parties with respect to the business being
				reinsured thereunder and that there are no understandings between the parties
				other than as expressed in the agreement; and
005.03(b) Any change or modification to the
				agreement shall be null and void unless made by amendment to the agreement and
				signed by both parties.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-001 - Authority

Current through June 17, 2024
This rule is promulgated pursuant to the authority granted in
				  the Motor Vehicle Service Contract Reimbursement Insurance Act,
Neb. Rev. Stat. §
§
									44-3520
				  through
				  44-3526.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-002 - Purpose

Current through June 17, 2024
This rule sets forth regulations and procedural requirements
				  which the Director of Insurance deems necessary to carry out the provisions of
				  the Motor Vehicle Service Contract Reimbursement Insurance Act, including but
				  not limited to the establishment of minimum standards for disclosure of the
				  coverage limitation and exclusions in motor vehicle service
				  contracts.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-003 - Definitions

Current through June 17, 2024
003.01A The definitions in the Motor Vehicle
				Service Contract Reimbursement Insurance Act as set forth in Neb. Rev. Stat.
				§
									44-3521, shall
				apply in the construction of this rule.
003.01B The term "conspicuously" shall mean
				writing, displaying, or presenting a term in such a way that a reasonable
				person against whom it is to operate ought to have noticed it. Conspicuously
				stated terms include:
i. a heading in
				capitals equal to or greater in size than the surrounding text, or in
				contrasting type, font, or color to the surrounding text of the same or lesser
				size; and
ii. language in the body
				of a record or display in larger type than the surrounding text, or in
				contrasting type, font, or color to the surrounding text of the same size, or
				set off from surrounding text of the same size by symbols or other marks that
				call attention to the language.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-004 - Filing requirements

Current through June 17, 2024
It is the responsibility of the motor vehicle service
				  contract provider issuing the motor vehicle service contract to file a true and
				  correct copy of the motor vehicle service contract form(s), motor vehicle
				  service contract reimbursement insurance policy(ies), and the Notice of Filing
				  form with the Department. The Notice of Filing shall be made on a form provided
				  by the Department and must contain the name and address of the business entity
				  filing the form as well as a contact person, the names and addresses of
				  entities from which the service contract forms were purchased, the names and
				  addresses of insurers insuring the provider's contractual liability, and the
				  names and addresses of sales personnel. It is the responsibility of the motor
				  vehicle service contract provider to notify the Department on a continuing
				  basis of any changes in the filings.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-005 - Insurer's obligation

Current through June 17, 2024
Each insurer shall provide coverage for all obligations and
				  liabilities incurred by a provider arising out of the provider's contractual
				  obligations to a service contract holder.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-006 - Disclosure to service contract holders

Current through June 17, 2024
Every motor vehicle service contract shall be written in
				  clear, understandable language and shall be printed or typed in easy-to-read
				  type, size and style, and shall not be issued, sold, or offered for sale in
				  this state unless the contract:
006.01
				Identifies the motor vehicle service contract provider and the service contract
				holder;
006.02 Conspicuously states
				that the obligations of the motor vehicle service contract provider to the
				service contract holder are guaranteed under a service contract reimbursement
				insurance policy;
006.03
				Conspicuously states the name and address of the insurance company issuing the
				reimbursement insurance policy;
006.04 Sets forth the total purchase price
				and the terms under which it is to be paid;
006.05 Sets forth the procedure for making a
				claim, including an address and telephone number for claim
				assistance;
006.06 Conspicuously
				states the existence of a deductible amount, if any;
006.07 Clearly specifies the merchandise or
				services, or both, to be provided and any limitations, exceptions or
				exclusions;
006.08 Sets forth all
				of the obligations and duties of the service contract holder, such as the duty
				to prevent any further damage to the vehicle, the obligation to notify the
				provider in advance of any repair, etc., if any;
006.09 Sets forth any terms, restrictions, or
				conditions governing transferability of a service contract, if any;
				and
006.10 Sets forth applicable
				cancellation requirements.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 58 - MOTOR VEHICLE SERVICE CONTRACT REIMBURSEMENT INSURANCE › Section 210-58-007 - Violations

Current through June 17, 2024
If the Director determines that a motor vehicle service
				  contract provider has failed to comply with the Motor Vehicle Service Contract
				  Reimbursement Insurance Act, the Director may issue an order to cease and
				  desist from selling or offering for sale motor vehicle service contracts.
				  Accompanied with that order shall be a Notice of Hearing setting forth the
				  time, date, place and issues to be heard. Such hearing shall take place not
				  less than ten days nor more than thirty days from the date from the cease and
				  desist. Upon the failure of a motor vehicle service contract provider to obey a
				  cease and desist order issued by the Director, the director may give notice in
				  writing of the failure to the Attorney General, who may commence an action
				  against the provider to enjoin that provider from selling or offering for sale
				  motor vehicle service contracts.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-001 - Authority

Current through June 17, 2024
This Rule is promulgated pursuant to the authority granted in
				  Neb.Rev.Stat. $ 44-4909.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-003 - Definitions

Current through June 17, 2024
The definitions in Neb.Rev.Stat. §
									44-4902
				  apply in the construction of this Rule .
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-004 - Bond

Current through June 17, 2024
Coverage is to be written by an insurer that is different
				  from and otherwise not affiliated with the insurer contracting with the
				  managing general agent. All bonds are to be executed on a form approved by the
				  Department and executed by an insurer licensed in Nebraska or operating under
				  the Nebraska Surplus Lines Act with coverage placed through a surplus lines
				  licensee, with a copy of the executed bond kept on file for review by any
				  applicable state insurance director, superintendent, or
				  commissioner.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-005 - Records Retention

Current through June 17, 2024
005.01 The insurer
				is to retain any contract entered into between a managing general agent and an
				insurer.
005.02 All books, bank
				accounts and records pertaining to business written by the managing general
				agent are to be retained at the managing general agent's place of business,
				with all such items mades available to the inspection of the director or the
				director's representatives during business hours. Records are to be maintained
				for 25 years following the completion of a liability insurance transaction,
				seven years following completion of a property insurance transaction, or until
				any statute of limitations period applicable to potential claims arising
				thereunder has expired, whichever is later.
005.03 Upon termination of the contract
				between an insurer and a managing general agent for any reason, all records
				maintained during the contract period are to be delivered by the managing
				general agent to the insurer within 90 days of any request.
005.04 The amount determined by the director
				under §
									44-4904(9)(i)
				 is one-quarter of one percent of the
				policyholder surplus as reported in the last annual statement of the
				insurer.
005.05 The amount set by
				the director under $
				44-4904(9)(v) is
				one-quarter of one percent of the policyholder surplus as reported in the last
				annual statement of the insurer.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-006 - Reporting Requirements

Current through June 17, 2024
006.01 Domestic
				insurers are to maintain, at all times, an up-to-date list file with the
				Department containing all names and addresses of all-managing general agents
				with whom it has a contract, and the name of an officer of the insurer
				responsible for the contract.
006.02 A domestic insurer shall file with the
				Department the name of the officer of the insurer responsible for binding
				reinsurance contracts.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-007 - Examination

Current through June 17, 2024
The Department retains authority to examine a managing
				  general agent notwithstanding termination of the managing general agent's
				  contractual authority. The examination expenses are to be reimbursed to the
				  Department by the insurer employing the managing general agent according to the
				  provisions of the Insurers Examination Act.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 59 - RULE IMPLEMENTING MANAGING GENERAL AGENTS ACT (AMENDED) › Section 210-59-008 - Severability

Current through June 17, 2024
If a court holds any section or portion of a section of this
				  rule or the applicability thereof invalid the remainder of the rule or the
				  applicability of such provision to other persons or circumstances are not to be
				  affected thereby.
Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 60 - UNFAIR PROPERTY AND CASUALTY SETTLEMENT PRACTICES RULE › Section 210-60-001 - Authority

Current through June 17, 2024
This rule is adopted under the authority of the Unfair
				  Insurance Claims Settlement Practices Act, pursuant to
Neb.Rev.Stat
.
§
§
									44-1536
				  through
				  44-1544.