NE LB1062

Removes the exemption that prevented retaliatory measures against insurance producers from other states, allowing Nebraska to impose equivalent fees and restrictions on out-of-state producers if their home states impose greater burdens on Nebraska producers

Authorizes the Director of Insurance to verify nonresident producer licensing status through the NAIC database or by contacting the home state regulator, and allows automatic cancellation of nonresident licenses when the producer's home state license becomes inactive

Establishes a hearing process for nonresident licensees facing license revocation, requiring written demand within 30 days and a hearing within 30 days thereafter under the Administrative Procedure Act

Adds reciprocal fee provisions allowing Nebraska to impose additional fees on insurance producers and business entities from states that charge Nebraska licensees higher fees, with individual producer licenses capped at $100 and business entity licenses at $50

Requires pharmacy benefit managers to immediately notify the Director of Insurance of any material changes in ownership, control, or other circumstances affecting their license qualification in Nebraska