Nebraska Administrative Code
Topic - INSURANCE, DEPARTMENT OF
Title 210 - NEBRASKA DEPARTMENT OF INSURANCE
Chapter 47 - GROUP SELF-INSURANCE RULE IMPLEMENTING THE INTERGOVERNMENTAL RISK MANAGEMENT ACT
Section 210-47-009 - Notice to Department

Universal Citation: 210 NE Admin Rules and Regs ch 47 ยง 009

Current through September 17, 2024

009.01 A pool shall notify the Department 30 days in advance of any assessments to cure a deficiency and of any changes in:

009.01A Contribution levels;

009.01B Coverages offered by the pool;

009.01C Administrator or service company, and any material change in such agreements with the administrator or service company;

009.01D The pool's articles of incorporation, articles of association and by-laws;

009.01E Any amendments to the agreement establishing in the pool;

009.01F Standard insurance, excess insurance, excess stop-loss insurance, excess stop-loss reinsurance agreements, and reinsurance agreements; or

009.01G The extent to which pool funding will be raised through the issuance of bonds.

009.02 The notification shall be accompanied by a statement explaining the effect of such change on the pool and its ability to operate in a manner which is not hazardous to the public. A copy of any amended documents shall be provided and accompanied by appropriate supporting opinions and information to the extent necessary and reasonably available.

009.03 The changes shall become effective 30 days after submitted to the Department unless disapproved by the director. The director shall disapprove any such notified change if the director determines the pool will not:

009.03A Have adequate surplus and reserves and receive adequate financial contributions from its members to operate in a manner which is not hazardous to the public; or

009.03B Satisfy the requirements of Nebraska law, this chapter, the agreement establishing the pool, or the pool's by-laws.

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