The Financial Regulation Division is responsible for determining and monitoring the financial solvency of insurance companies licensed in Nebraska. The Division is comprised of three sections.
Financial Examination Section: The Financial Examination Section is responsible for conducting on-site financial examinations of all Nebraska domestic insurance companies in accordance with Nebraska Statutes and Regulations, and the NAIC Financial Condition Examiners Handbook. The examinations are conducted to determine the financial condition of the company, its ability to meet and fulfill its obligations, and whether it has complied with the provisions of Nebraska Statutes.
Financial Analysis Section: The Financial Analysis Section is responsible for conducting in-house audits of all Nebraska domestic insurance companies' financial statements, supplemental filings, and holding company filings to monitor the insurers' statutory compliance and solvency on an on-going basis. The analysts may recommend that an examination be conducted or that a company's authority to do business in Nebraska be suspended or revoked.
Company Administration Section: The Company Administration Section is responsible for reviewing, evaluating and processing company admission applications, changes, and certificates of authority. Duties for this section also include the regulation of purchasing and risk retention groups, the administration of insurance company securities placed on deposit with the Department, and oversight of Pre-Need sales. In addition, a major responsibility includes the audit and collection of premium tax, retaliatory tax, fire marshal tax, workers' compensation tax, various renewal fees, and the audit and collection of premium and fire marshal tax for surplus and excess lines.
The present staff of the Financial Regulation Division consists of a Chief Examiner, a Deputy Chief Examiner, two Assistant Chief Examiners, a Company Administrator, two Life and Health Actuarial Examiners, an Investment Specialist, a Reinsurance Specialist, an Assistant Company Administrator, an Examination Supervisor, fourteen Financial Examiners, a burial Pre-need Examiner, twelve Financial Analysts, a Premium Tax Analyst, and two Staff Assistants.
Fees, Taxes & Deposits
Information about Insurers