§ 44-5904 — Authority, scope, and scheduling of examinations

Nebraska § 44-5904

• Jurisdiction: Nebraska
• Ch. 44: Insurance

Text

(1) The director or any of his or her examiners
may conduct an examination under the Insurers Examination Act of any company
incorporated in this state or in any other state or country admitted to or
applying for admission to transact business in this state as often as the
director in his or her sole discretion deems appropriate but shall at a minimum
conduct an examination of every domestic insurer not less frequently than
once every five years. In scheduling
and determining the nature, scope, and frequency of the examination of a company,
the director shall consider such matters as the results of financial statement
analyses and ratios, changes in the company's management or ownership, actuarial
opinions, reports of independent certified public accountants, the company's
ability to meet and fulfill its obligations, the company's compliance with
provisions of law, other facts relating to the company's business methods,
the company's management and its dealings with its policyholders, and other
criteria as set forth in the Examiners' Handbook adopted by the National Association
of Insurance Commissioners and in effect when the director conducts an examination
under this section.
(2) For purposes of completing an examination of any company under the
act, the director may examine or investigate any person, or the business of
any person, insofar as such examination or investigation is, in the sole discretion
of the director, necessary or material to the examination of the company.

Legislative History

Source: Laws 1993, LB 583, § 4; Laws 1998, LB 1035, § 12; Laws 2009, LB192, § 9.