Holding Company Filings

A "Disclaimer of Affiliation" may be filed by any person, insurer, or member of a holding company claiming that a person does not, or will not upon taking some proposed action, control another person: 

Filing information:

• What to include:
  • ​The disclaimer shall fully disclose all material relationships and bases for affiliation between the person and insurer as well as the basis for disclaiming such affiliation and shall include the following information as outlined in Title 210, Chapter 24, §017.01
     
    • ​the number of authorized, issued, and outstanding voting securities of the subject
       
    • with respect to the person whose control is denied and all affiliates of such person, the number and percentage of shares of the subject's voting securities which are held of record or known to be beneficially owned, and the number of such shares concerning which there is a right to acquire directly or indirectly
       
    • all material relationships and bases for affiliation between the subject and the person whose control is denied and all affiliates of such person; 
       
    • a statement explaining why such person should not be considered to control the subject 
       
• ​​Where to file:
  • ​Filings should be submitted electronically to the attention of the Director of Insurance
     
• ​Fees:
  • ​There are no fees associated with Disclaimers of Affiliation
     

​​Guidance:

• Neb. Rev. Stat. §44-2132(11)
• Title 210 Chapter 24 §017.01
   

​​​Contact person:
For questions related to filing a Disclaimer of Affiliation, please contact:

Lindsay Crawford, CFE
Chief Financial Regulator
(402) 471-4734
Lindsay.Crawford@nebraska.gov 

Form B:

Form B is the registration of insurers authorized to do business in Nebraska and that are members of an insurance holding company system

• Initial Filing:
  • When to file:
    • ​Once an insurer becomes subject to registration, Form B must be filed within 15 days
       
  • ​Where to file:​
    • Filings should be made to the Department's Electronic Filings Portal
       
  • Fees:
    • The initial registration filing fee is $1,000

       

• ​Annual Filing: 
  • When to file:
    • ​Due May 1st 
       
  • ​Where to file:​
    • Filings should be made to the Department's Electronic Filings Portal
       
  • ​Fees:
    • Annual filing fee is $200
       

​​Form C: 

• All registration statements must contain a summary outlining all items in the current registration statement representing changes from the prior registration statement
   
• When to file:
  • Due May 1st with Form B filing
     
• ​Where to file:​
  • Filings should be made to the Department's Electronic Filings Portal
     
• ​Fees:
  • ​There are no filing fees associated with the Form C filing. 

     

​Form B Amendments:

• When to file:

  • ​Each registered insurer shall keep current the information required to be disclosed in its registration statement (Form B) by reporting all material changes or additions within 15 days after the end of the month in which it learns of each such change or addition.
     

• ​Where to file:

  • ​Filings should be made to the Department's Electronic Filings Portal
     

• ​​Fees

  • ​There are no filing fees associated with Form B Amendments 
     

​Guidance:

• Neb. Rev. Stat. §44-2132 
• Neb. Rev. Stat. §44-2131
• Title 210 Chapter 24
   

Questions:

For questions related to Form B/C, please contact Jill Gleason:

Jill Gleason, CFE
Assistant Chief Examiner - Holding Company
(402) 471-3164
Jill.Gleason@nebraska.gov

Description:
Form F is an Enterprise Risk Report that identifies the material risks within an insurance holding company system that could pose enterprise risk to the insurer. 

• The Form F comprises areas that could produce enterprise risk to the insurer. Adequate information should be provided in each of these sections in order to accurately describe any material risks posed to the insurer. Supplemental Information (e.g. SEC Filings, etc.) can be included or referenced to further support any material risk identified. 
   

• Filing Information:

  • ​When to File:

    • ​Due May 1st 
       

  • ​Where to File:

    • ​Filings should be made to the Department's Electronic Filings Portal
       

  • ​Fees:

    • ​There are no filing fees associated with the Form F filing. See Form B section above for annual filing fee information. 
       

• Guidance 

  • ​Neb. Rev. Stat. §44-2132

  • Title 210 Chapter 24 

​​

Questions:
For questions related to the Form F, please contact:

Jillian Gleason, CFE
Assistant Chief Examiner - Holding Company
(402) 471-3164
Jill.Gleason@nebraska.gov

The ORSA is an internal process undertaken by an insurer or insurance group to assess the adequacy of its risk management and current and prospective solvency positions under normal and severe stress scenarios. An ORSA will require insurers to analyze all reasonably foreseeable and relevant material risks (i.e., underwriting, credit, market, operational, liquidity risks, etc.) that could have an impact on an insurer's ability to meet its policyholder obligations. 
 

Filing information:

• Who should file:
  • ​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, of $500,000,000 or more
  • The insurance group of which the insurer is a member 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, of $1,000,000,000 or more 
     
• What to include:
  • ​The insurer of the insurance group shall regularly conduct an own risk and solvency assessment consistent with a process comparable to the own risk and solvency assessment guidance manual. NAIC ORSA Guidance Manual  
     

  • The own risk and solvency assessment shall be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member
     

  • Material changes made to the ORSA from year to year should be identified separately as part of the filing
     

• ​Where to file:

  • ​Filings should be made to the Department's Electronic Filings Portal 
     

• ​Fees:

  • ​There are no fees associated with an ORSA filing 
     

​​Guidance:

• Risk Management and Own Risk and Solvency Assessment Act 

  • ​Neb. Rev. Stat. §44-9001-9011

  • NAIC ORSA Guidance Manual  

​​Questions:
For questions related to the ORSA, please contact

TJ Addison, MBA, CFE
Assistant Chief Examiner - Analysis
(402) 471-0343
TJ.Addison@nebraska.gov

Dividend filing submissions are subject to the requirements of Neb. Rev. Stat. §44-2132 and Title 210 Neb. Admin. Code Chapter 24 §020. Extraordinary dividends are subject to additional requirements of Neb. Rev. Stat. §44-2134 and 44-325. 
 

Filing information:

• ALL dividend submissions should include the following:
  • ​Notice should be received within 5 business days of declaration
  • Amount of the dividend 
    • ​Type of consideration
      • ​If other than cash, provide:
        • ​Description of asset 
        • Cost 
        • Fair market value 
        • Explanation of the basis for valuation
           
  • ​​​Date of payment 
    • ​Payment date should NOT be within 10 business days from receipt of notice unless approved
       
  • ​Party dividend is payable to 
     
  • Calculation to determine if dividend is ordinary/extraordinary
    • ​Amounts, dates, and forms of payment for dividends declared within the past 12 months​
    • Total surplus as of prior annual statement 
    • For Life Insurers:
      • ​Net income from operations of the prior year
    • ​For Non-Life Insurers:
      • ​Net income less realized capital gains for the prior 2 years 
      • Dividends paid in the prior 2 calendar years 
  • ​​Amount of surplus represented by cumulative unrealized gains or losses disclosed in the Company's note to the financial statements
  • Signed declaration from the Board of Directors or documentation from a senior officer certifying the Board has approved the dividend
     
• ​Additional items to include with extraordinary dividend and distribution submissions:
  • ​Payment date should NOT be within 30 days from receipt of notice unless approved
  • Provide Balance Sheets and Income Statements for all interim periods since the last annual statement 
  • Brief statement regarding the purpose for the dividend as well as the effect of the dividend on the surplus of the company
     
• ​Where to file:
  • ​Filings should be made to the Department's Electronic Filings Portal
     
• ​Fees:
  • ​There are no fees associated with dividend filings
     

​​Guidance 

• Neb. Rev. Stat. §44-2132(5)
• Neb. Rev. Stat. §44-2134
• Chapter 24 §020
• Neb. Rev. Stat. §44-325
• Adequacy of surplus
  • ​Neb. Rev. Stat. §44-2136
  • Chapter 24 §021
     

Questions:
For questions related to dividends, please contact:

TJ Addison, MBA, CFE
Assistant Chief Examiner - Analysis
(402) 471-0343
TJ.Addison@nebraska.gov