The bill amends various sections of the Reissue Revised Statutes of Nebraska, focusing on the regulation of insurance practices, particularly under the Unfair Insurance Trade Practices Act and the Nebraska Property and Liability Insurance Guaranty Association Act. Key changes include the introduction of new definitions such as "customer," "health insurance lead generator," and "lead generating device," which clarify the roles of individuals and entities in the insurance industry. The bill also modifies the powers and duties of the Director of Insurance, updates the board of directors' composition for the Nebraska Property and Liability Insurance Guaranty Association, and enhances definitions of unfair trade practices, specifying actions like misrepresentation and unfair discrimination.

Additionally, the bill eliminates the Health Insurance Access Act and the Health Care Purchasing Pool Act, repealing several obsolete provisions to streamline the regulatory framework. It introduces new requirements for health insurance lead generators to maintain accessible records regarding complaints and marketing data, expands the director's authority to examine unfair trade practices, and establishes penalties for violations. The bill also specifies obligations related to cybersecurity insurance claims and mandates annual audits for mutual insurance holding companies, reflecting a significant restructuring of the legal framework governing insurance regulations in Nebraska.

Statutes affected:
Introduced: 44-1523, 44-1524, 44-1525, 44-1527, 44-1528, 44-1529, 44-1530, 44-1532, 44-2403, 44-2405, 44-2406, 44-2407, 44-2411, 44-6135
Final Reading: 44-1523, 44-1524, 44-1525, 44-1527, 44-1528, 44-1529, 44-1530, 44-1532, 44-2403, 44-2405, 44-2406, 44-2407, 44-2411, 44-6135
Slip Law: 44-1523, 44-1524, 44-1525, 44-1527, 44-1528, 44-1529, 44-1530, 44-1532, 44-2403, 44-2405, 44-2406, 44-2407, 44-2411, 44-6135