Loading chat...
NE LB326
Bill
Status
4/14/2025
Primary Sponsor
Michael Jacobson
Click for details
AI Summary
-
Adds "health insurance lead generator" as a regulated entity under the Unfair Insurance Trade Practices Act, requiring these entities to maintain records for examination and subjecting them to investigation, cease and desist orders, and penalties for unfair trade practices
-
Expands the Nebraska Property and Liability Insurance Guaranty Association's coverage to include claims from policies transferred to other insurers that later become insolvent, and adds a $300,000 cap on cybersecurity insurance claims per single insured event
-
Grants the Guaranty Association new authority to contest pre-liquidation settlements, releases, and judgments made within 120 days of an insurer's liquidation order, and to assert defenses against settlements made by default, fraud, or collusion
-
Requires claimants to exhaust all rights under state or federal government programs and other insurance policies before the Guaranty Association must pay covered claims, for both first-party and third-party claims
-
Repeals the Health Insurance Access Act (sections 44-5301 through 44-5311) and the Health Care Purchasing Pool Act (sections 44-6701 and 44-6702) in their entirety
Legislative Description
Change provisions relating to the Unfair Insurance Trade Practices Act, the Nebraska Property and Liability Insurance Guaranty Association Act, and mutual insurance holding companies and eliminate the provisions of the Health Insurance Access Act and the Health Care Purchasing Pool Act
Last Action
Approved by Governor on April 14, 2025
4/14/2025