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Current as of January 01, 2024 | Updated by Findlaw Staff
An advisory organization may, for the lines of insurance for which it has been licensed:
(1) Engage in those activities enumerated in section 44-7521;
(2) Prepare, file, and distribute prospective loss costs;
(3) Prepare, file, and distribute manuals of rating rules, rating schedules, experience rating plans and other supplementary rating information that do not include final rates, expense provisions, profit provisions, or minimum premiums;
(4) Prepare and distribute experience rating plan modifiers for individual policyholders;
(5) Prepare, file, and distribute factors, calculations, or formulas pertaining to classification, territory, and other variables;
(6) Prepare, file, and distribute increased limits factors, which may include an incremental profit load, also called a risk load;
(7) Conduct research and inspections in order to prepare classifications of public fire defenses or to evaluate the effectiveness of building codes and their enforcement;
(8) Conduct inspections to determine rating classifications for individual insureds;
(9) Consult with public officials regarding public fire protection as it would affect members, subscribers, and others;
(10) Conduct research in order to discover, identify, and classify information relating to causes or prevention of losses;
(11) Prepare, file, and distribute policy forms and gather information from members, subscribers, and others relative to the application and interpretation of the policy forms;
(12) Conduct research and inspections for the purpose of providing risk information relating to individual structures;
(13) If instructed by the director, file rates instead of prospective loss costs for assigned risk or other residual market mechanisms;
(14) Conduct research to determine the impact of statutory changes upon prospective loss costs;
(15) Undertake educational activities on the use of policy forms, analysis of losses, loss trends, loss reserves, expenses, and other policy form and ratemaking topics;
(16) For workers' compensation insurance, establish a committee that may include insurance company representatives to review the application of the classification system for individual insureds and to suggest modifications to the classification system;
(17) Distribute any other information that is filed with the director; and
(18) Furnish any other services approved or directed by the director related to the services enumerated in this section.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 44. Insurance § 44-7522. Advisory organizations; authorized activities - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-44-insurance/ne-rev-st-sect-44-7522/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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