New insurance producer license approved

Senators gave final approval May 7 to a bill that authorizes a new insurance producer license in Nebraska.

LB458, introduced by Seward Sen. Mark Kolterman, authorizes the state director of insurance to issue a limited lines travel insurance producer license. The new license authorizes an individual or business entity to sell, solicit or negotiate travel insurance through a licensed insurer.

A limited lines travel insurance producer and those registered under the producer’s license are exempt from examination, prelicensing education and continuing education requirements for producers.

The bill passed 48-0.