State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter44 > 44-7506

44-7506. Rating systems and prospective loss costs; filing required.(1) All rating systems and prospective loss costs shall be filed with the director in accordance with section 44-7508, except that filings for the following shall be filed in accordance with sections 44-7510 and 44-7511:(a) Filings made by advisory organizations;(b) Medical professional liability insurance;(c) Insurance in noncompetitive markets as determined pursuant to section 44-7507;(d) Liability and physical damage coverages relating to the rental of private passenger automobiles on a nonfleet basis;(e) Insurance written by joint underwriting pools or joint reinsurance pools;(f) Insurance written in an assigned risk plan; and(g) Insurance covering risks of a personal nature written for business entities if the costs for the insurance are charged to individuals. This does not include coverage provided without a separate charge by business entities for their customers.(2)(a) If the director, after notice and hearing in accordance with the Administrative Procedure Act, finds that an insurer has made filings pursuant to section 44-7508 that have failed to meet the filing standards contained in that section with such frequency as to indicate a general business practice that disregards the requirements of that section, the director shall order that the insurer's filings be made subject to the requirements of sections 44-7510 and 44-7511.(b) Upon application by an insurer affected by an order issued pursuant to subdivision (2)(a) of this section, demonstrating that its filings made subsequent to the order have been in compliance with section 44-7508 without the need for the director to request that the original filings be amended, the director shall vacate such order. The director shall consider any such application within thirty days after its receipt for any order that has been in effect for more than nine months since its inception or since it was last reviewed by the director pursuant to an application by the insurer.(c) For insurers whose rating system filings that would otherwise be subject to this section have been made subject to the prior approval requirements of section 44-7511 through the application of this subsection, the percentage rating flexibilities provided in section 44-7509 shall apply to such rating system filings made by such insurers once the rating system filing has been approved pursuant to section 44-7511. SourceLaws 2000, LB 1119, § 6; Laws 2005, LB 119, § 25. Cross ReferencesAdministrative Procedure Act, see section 84-920.