NOTICE OF HEARING - Rule to Define Standards and Director's Authority for Companies Deemed to be in Hazardous Financial Condition
The Director of the Department of Insurance has scheduled a public hearing as required by NEB. REV. STAT. §§ 84-901 through 84-909 for the proposed amendment of Title 210, Nebraska Administrative Code, Chapter 55 – Rule to Define Standards and Director’s Authority for Companies Deemed to be in Hazardous Financial Condition.
The proposed amendment supplements various statutory provisions of the Nebraska Insurance Code codified in Chapter 44 of the Nebraska Revised Statutes. The proposed amendment to Title 210, Nebraska Administrative Code, Chapter 55, seeks 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. The proposed amendment has no fiscal impact; however, a copy of the Fiscal Impact Statement is available at the Department of Insurance.
Copies of proposed amended Chapter 55 are available upon request from the Department of Insurance, 941 O Street, Suite 400, Lincoln, NE 68508, at a cost of $3.00 each. Copies of proposed amended Chapter 55 are available for inspection at the aforementioned address, as well as the Office of the Secretary of State, State Capitol Building, Suite 2300, Lincoln, NE 68509, and through the Department’s web site at www.doi.ne.gov. All persons interested in presenting oral or written views on the proposed amendment of Chapter 55 will be granted an opportunity at a hearing to be held before the Director of Insurance, State of Nebraska, beginning at 1:30 p.m., the 15th day of July, 2010, and will continue until concluded. Said hearing will be held in the 5th Floor Conference Room of the Terminal Building at 941 O Street, Lincoln, NE 68508.
Reasonable accommodations will be provided to persons with disabilities upon advanced request. The hearing will be transcribed at the request of any party with the expense of the transcription charged to the requesting party.
All persons interested therein may appear at said time and be heard in reference thereto.
Dated this 24th day of May, 2010.