Chapter 71 of the Insurance Department Rules was filed with the Secretary of State for adoption on October 28, 2010, with an implementation date of November 2, 2010.
Chapter 71 entitled, “Valuation of Life Insurance Polices Regulation” was amended, as part of the Regulatory Asset Adequacy Issues Summary required of life insurers each year, to require that the appointed actuary make an added statement as to the impact of the insufficiency of assets to support the payment of benefits and expenses and the establishment of statutory reserves during one or more interim periods. The amendments also corrected numbering and typographical errors.
Copies of Chapter 71 may be obtained by forwarding a check in the amount of $19.00 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 71 should be directed to Mike Boyd.
