State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-4822

44-4822. Notice to creditors and others.(1) Unless the court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible:(a) By first-class mail and by telegram, electronic mail, facsimile, or telephone to the director, commissioner, or equivalent official of each jurisdiction in which the insurer is doing business;(b) By first-class mail to any guaranty association or foreign guaranty association which is or may become obligated as a result of the liquidation;(c) By first-class mail to all insurance agents of the insurer;(d) By first-class mail to all persons known or reasonably expected to have claims against the insurer, including all policyholders at their last-known address as indicated by the records of the insurer; and(e) By publication in a newspaper of general circulation in the county in which the insurer has its principal place of business and in such other locations as the liquidator deems appropriate.(2) Notice to potential claimants under subsection (1) of this section shall require claimants to file with the liquidator their claims together with proper proofs thereof under section 44-4836 on or before a date the liquidator shall specify in the notice. Although an earlier date may be set by the liquidator, the last day to file claims shall be no later than eighteen months following the order of liquidation. The liquidator need not require persons claiming cash surrender values or other investment values in life insurance and annuities to file a claim. All claimants shall have a duty to keep the liquidator informed of any changes of address.(3)(a) Notice under subsection (1) of this section to agents of the insurer and to potential claimants who are policyholders shall include, when applicable, notice that coverage by a guaranty association may be available for all or part of policy benefits in accordance with applicable state insurance guaranty laws.(b) The liquidator shall promptly provide to any guaranty association such information concerning the identities and addresses of such policyholders and their policy coverages as may be within the liquidator's possession or control and shall otherwise cooperate with a guaranty association to assist in providing to such policyholders timely notice of the guaranty association's coverage of policy benefits, including, as applicable, coverage of claims and continuation or termination of coverages.(4) If notice is given in accordance with this section, the distribution of assets of the insurer under the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act shall be conclusive with respect to all claimants whether or not they receive actual notice. SourceLaws 1989, LB 319, § 22; Laws 1991, LB 236, § 76. AnnotationsIf the liquidator's file reflects the potential claimant's direct address, the mailing of a notice to attorneys listed in correspondence between the claimant and the insurance company from several years previous does not satisfy the notice requirements of this section. State ex rel. Wagner v. Amwest Sur. Ins. Co., 274 Neb. 121, 738 N.W.2d 813 (2007).When notice is not properly given in accordance with this section, a claimant should not be penalized for failing to timely file a claim in the liquidation proceeding of which the claimant was unaware. State ex rel. Wagner v. Amwest Sur. Ins. Co., 274 Neb. 121, 738 N.W.2d 813 (2007).