Chapter 55 of the Insurance Department Rules and Regulations was filed with the Secretary of State on August 17, 2010, with an implementation date of January 1, 2011.
Chapter 55 entitled, “Rule to Define Standards and Director’s Authority for Companies Deemed to be in Hazardous Financial Condition” was amended to clarify and update portions of the administrative rule setting forth those standards which may be used by the Director to determine whether an insurer transacting business in this state is operating in a hazardous financial condition. Additionally, the proposed amendment also clarifies and updates those actions authorized to be taken by the Director when a finding has been made that an insurer is operating in a hazardous financial condition
Copies of Chapter 55 may be obtained by forwarding a check in the amount of $2.50 for each copy requested made payable to the Nebraska Department of Insurance, 941 O Street, Suite 400, Lincoln, Nebraska 68508, and through the Department’s web site at www.doi.ne.gov. Any questions concerning Chapter 55 should be directed to Joel Green.
