Nebraska § 44-5510 Insurance; procurement
from nonadmitted insurer; when; terms and conditions; surplus lines licensee;
exempt from due diligence search; conditions

Nebraska Statutes

§ 44-5510 — Insurance; procurement from nonadmitted insurer; when; terms and conditions; surplus lines licensee; exempt from due diligence search; conditions

Nebraska § 44-5510

Ch. 44Insurance

This text of Nebraska § 44-5510 (Insurance; procurement from nonadmitted insurer; when; terms and conditions; surplus lines licensee; exempt from due diligence search; conditions) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-5510 (2026).

Text

(1)If an applicant for insurance is unable to procure such insurance as he or she deems reasonably necessary to insure a risk or exposure from an admitted insurer, such insurance may be procured from a nonadmitted insurer upon the following terms and conditions:

(a)The insurance shall be procured from a surplus lines licensee;

(b)The insurance procured shall not include any insurance described in subdivisions (1) through (4) of section 44-201 , except that this subdivision shall not prohibit the procurement of disability insurance that has a benefit limit in excess of any benefit limit available from an admitted insurer;

(c)Not later than thirty days after the effective date of such insurance, the insured shall provide, in writing, his or her permission for such insurance to be writte

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(1) If an applicant
for insurance is unable to procure such insurance as he or she deems reasonably
necessary to insure a risk or exposure from an admitted insurer, such insurance
may be procured from a nonadmitted insurer upon the following terms and conditions:
(a) The insurance shall be procured from a surplus lines licensee;
(b) The insurance procured shall not include any insurance described
in subdivisions (1) through (4) of section 44-201 , except that this subdivision shall not prohibit the procurement
of disability insurance that has a benefit limit in excess of any benefit
limit available from an admitted insurer;
(c) Not later than thirty days after the effective date of such insurance,
the insured shall provide, in writing, his or her permission for such insurance
to be written in a nonadmitted insurer and his or her acknowledgment that,
in the event of the insolvency of such insurer, the policy will not be covered
by the Nebraska Property and Liability Insurance Guaranty Association; and
(d) Compliance with section 44-5511 .
(2) A surplus lines licensee seeking to procure or place nonadmitted
insurance for an exempt commercial purchaser whose home state is the State
of Nebraska shall not be required to make a due diligence search to determine
whether the full amount or type of insurance sought by such exempt commercial
purchaser can be obtained from admitted insurers if:
(a) The surplus lines licensee procuring or placing the insurance has
disclosed to the exempt commercial purchaser that such insurance may or may
not be available from the admitted market that may provide greater protection
with more regulatory oversight; and
(b) The exempt commercial purchaser has subsequently requested in writing
the surplus lines licensee to procure or place such insurance for a nonadmitted
insurer.

Legislative History

Source: Laws 1978, LB 836, § 8; Laws 1989, LB 92, § 35; R.S.Supp.,1990, § 44-147.02; Laws 1992, LB 1006, § 10; Laws 2011, LB70, § 7; Laws 2012, LB1064, § 1. Cross References: Nebraska Property and Liability Insurance Guaranty Association, see section 44-2404.