NE LB1138

Authorizes insurers and insurance producers to delay disbursements or transactions from life insurance policies and annuities for up to 15-55 business days if they reasonably believe the transaction will result in financial exploitation of a senior or vulnerable adult

Requires insurers to notify the Director of Insurance within 7 business days of any delayed transaction and provide written notification to authorized account holders explaining the delay

Grants immunity from civil, criminal, and administrative liability to insurers and trained individuals who act reasonably and in good faith when reporting suspected exploitation, delaying transactions, or notifying permissible third parties

Mandates training for insurer supervisors and employees by April 15, 2027 (or within one year of hire) on identifying signs of financial exploitation and reporting procedures; insurance producers must complete at least 2 hours of related continuing education

Requires insurers to provide relevant records to the Director of Insurance and law enforcement during investigations, with all such records remaining confidential and exempt from public disclosure requirements