Banking Commerce and Insurance

Omnibus insurance measure approved

Lawmakers passed a bill April 12 that makes a number of changes to laws governing insurance in Nebraska.

Sen. Matt Williams
Sen. Matt Williams

LB863, introduced by Gothenburg Sen. Matt Williams, mandates the filing of group capital calculation and liquidity stress test results with the Nebraska Department of Insurance by insurers subject to the registration requirements of the Insurance Holding Company System Act.

The bill includes provisions of six additional measures:
• LB728, introduced by Omaha Sen. Brett Lindstrom, which creates a state administered statutory framework for the sale of travel insurance and subjects individuals who sell travel insurance to the Unfair Insurance Trade Practices Act;
• LB737, introduced by Lincoln Sen. Eliot Bostar, which creates the Primary Care Investment Council to analyze, among other data, spending and investment on primary care services in comparison to health outcomes in Nebraska and nationally;
• LB739, also introduced by Bostar, which lowers the health insurance coverage age for a colorectal cancer screening from 50 to 45;
• LB955, introduced by Sen. Dave Murman of Glenvil, which prohibits the denial or reduction of coverage for life, disability or long-term care insurance or the charge of an additional premium for living organ donors in Nebraska;
• LB957, introduced by Sen. Michael Flood of Norfolk, which requires that all Nebraska domestic insurers regulated by the state establish standards, requirements and limitations for the investment of insurers; and
• LB1042, introduced by Bostar, which provides guidance to insurance companies regarding gifts and other related activities.

Lawmakers passed LB863 on a 46-0 vote.

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