The Nebraska Protection of Seniors from Insurance Exploitation Act aims to provide legal protections for insurers and insurance producers, enabling them to take action to detect and prevent financial exploitation of seniors and vulnerable adults. The bill outlines the responsibilities and definitions relevant to the act, including terms such as "financial exploitation," "eligible adult," and "trained individual." It emphasizes that insurers and producers are in a unique position to identify potential exploitation during transactions and clarifies that they are not obligated to contravene valid customer instructions.

The act also establishes immunity for insurers and trained individuals who act in good faith when reporting suspected exploitation or delaying transactions that may lead to financial harm. It mandates training for insurance personnel on identifying exploitation and requires insurers to provide access to relevant records during investigations. Additionally, the director of insurance is empowered to create regulations to implement the act effectively. Overall, the legislation seeks to enhance protections for seniors against financial exploitation while providing a framework for insurers to act responsibly in such situations.