44-5904 Authority, scope, and scheduling of examinations. - Nebraska Statutes

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Statutes > Nebraska > Chapter44 > 44-5904

44-5904. Authority, scope, and schedulingof examinations.(1) The director or any of his or her examinersmay conduct an examination under the Insurers Examination Act of any companyincorporated in this state or in any other state or country admitted to orapplying for admission to transact business in this state as often as thedirector in his or her sole discretion deems appropriate but shall at a minimumconduct an examination of every domestic insurer not less frequently thanonce every five years. In schedulingand determining the nature, scope, and frequency of the examination of a company,the director shall consider such matters as the results of financial statementanalyses and ratios, changes in the company's management or ownership, actuarialopinions, reports of independent certified public accountants, the company'sability to meet and fulfill its obligations, the company's compliance withprovisions of law, other facts relating to the company's business methods,the company's management and its dealings with its policyholders, and othercriteria as set forth in the Examiners' Handbook adopted by the National Associationof Insurance Commissioners and in effect when the director conducts an examinationunder this section.(2) For purposes of completing an examination of any company under theact, the director may examine or investigate any person, or the business ofany person, insofar as such examination or investigation is, in the sole discretionof the director, necessary or material to the examination of the company. SourceLaws 1993, LB 583, § 4; Laws 1998, LB 1035, § 12; Laws 2009, LB192, § 9.

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-5904

44-5904. Authority, scope, and schedulingof examinations.(1) The director or any of his or her examinersmay conduct an examination under the Insurers Examination Act of any companyincorporated in this state or in any other state or country admitted to orapplying for admission to transact business in this state as often as thedirector in his or her sole discretion deems appropriate but shall at a minimumconduct an examination of every domestic insurer not less frequently thanonce every five years. In schedulingand determining the nature, scope, and frequency of the examination of a company,the director shall consider such matters as the results of financial statementanalyses and ratios, changes in the company's management or ownership, actuarialopinions, reports of independent certified public accountants, the company'sability to meet and fulfill its obligations, the company's compliance withprovisions of law, other facts relating to the company's business methods,the company's management and its dealings with its policyholders, and othercriteria as set forth in the Examiners' Handbook adopted by the National Associationof Insurance Commissioners and in effect when the director conducts an examinationunder this section.(2) For purposes of completing an examination of any company under theact, the director may examine or investigate any person, or the business ofany person, insofar as such examination or investigation is, in the sole discretionof the director, necessary or material to the examination of the company. SourceLaws 1993, LB 583, § 4; Laws 1998, LB 1035, § 12; Laws 2009, LB192, § 9.

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State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-5904

44-5904. Authority, scope, and schedulingof examinations.(1) The director or any of his or her examinersmay conduct an examination under the Insurers Examination Act of any companyincorporated in this state or in any other state or country admitted to orapplying for admission to transact business in this state as often as thedirector in his or her sole discretion deems appropriate but shall at a minimumconduct an examination of every domestic insurer not less frequently thanonce every five years. In schedulingand determining the nature, scope, and frequency of the examination of a company,the director shall consider such matters as the results of financial statementanalyses and ratios, changes in the company's management or ownership, actuarialopinions, reports of independent certified public accountants, the company'sability to meet and fulfill its obligations, the company's compliance withprovisions of law, other facts relating to the company's business methods,the company's management and its dealings with its policyholders, and othercriteria as set forth in the Examiners' Handbook adopted by the National Associationof Insurance Commissioners and in effect when the director conducts an examinationunder this section.(2) For purposes of completing an examination of any company under theact, the director may examine or investigate any person, or the business ofany person, insofar as such examination or investigation is, in the sole discretionof the director, necessary or material to the examination of the company. SourceLaws 1993, LB 583, § 4; Laws 1998, LB 1035, § 12; Laws 2009, LB192, § 9.