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Licensing requirements for Nebraska insurance professionals and companies.
This page provides an overview of insurance licensing in Nebraska for individuals and companies. You will find state requirements, application fees, filing instructions, and more. For assistance with licensing, please contact us to learn about our software and managed license services.
Companies that provide insurance producer services in Nebraska must apply for a license prior to doing
business. Depending on the lines of authority offered by the entity and the types of services offered, multiple
firm licenses may be required.
Before applying, firms should ensure that the licensed individual to be appointed agent in charge has the
necessary licenses. Firms should also gather proof of incorporation, or foreign qualification for out-of-state
firms, in anticipation of application requirements.
Third party administrator is a person who directly or indirectly does any one or more of the following, for residents of this state, or residents of another state from offices in this state: solicits or effect coverage, underwrites, collects charges or premiums or adjusts or settles claims.
Nebraska Third Party Administrator License
Agency:
Nebraska Department of Insurance
Foreign Qualification is Prerequisite:
No
Notes:
TPA’s that meet all of the following conditions will not have to obtain a certificate of authority but notification to the Nebraska Department of Insurance is required: 1)The principal place of business of the TPA is in another state; and 2)The TPA is not soliciting business as a TPA in this state; and 3)In the case of a group policy or group contract, serviced by a TPA, the lesser of fivepercent or one hundred certificate holders or subscribers reside in Nebraska
Registered Agent (Special Agency) Required?
No
Initial Registration
Exemption Eligible Organizations:
An employer on behalf of its employees or the employees or one or more subsidiaries or affiliated corporations of such employer, (not all activity exempt, see General Information section of this notice)
A union on behalf of its members (not all activity exempt, see General Information section of this notice)
An insurer which is authorized to transact the business of insurance in this state with respect to a policy issued and delivered in and pursuant to the laws of this state or another state.
An agent or broker licensed to sell life insurance, sickness and accident insurance, workers compensation insurance coverage, or annuities in this state whose activities are limited exclusively to the sale of insurance (not all activity exempt, see General Information section).
A creditor on behalf of its debtors with respect to insurance covering a debt between the creditor and its debtor.
A trust and its trustees, agents, and employees acting pursuant to a trust established under 29 U.S.C. 186 or a trust exempt from taxation.
A trust exempt from taxation under Section 501(a) of the Internal Revenue Code, its trustees and employees, custodian and the custodian’s agents acting pursuant to a custodian account meeting the requirements of Section 401(f) of the Internal Revenue Code.
A credit union or financial institution subject to supervision by federal or state banking authorities or a mortgage lender, to the extent of collection remits premiums to licensed insurance agents or authorized insurers in connection with loan payments.
A credit card issuing company which advances for and collects premiums from credit card holders, if the company does not adjust or settle claims.
The person who adjusts or settles claims in the normal course of practice or employment as an attorney at law and who does not collect charges or premiums in connection with life insurance, sickness and accident insurance, workers compensation insurance coverage, or annuities.
A person acting solely as a TPA of one or more bona fide employee benefit plan established by an employer or employer’s organization, or both, for which the insurance laws of Nebraska are preempted pursuant to the Employee Retirement Income Security Act of 1974 (ERISA). However, such person has to register with the Director annually. (Not all activity exempt, see General Information section of this notice).
A person licensed as a managing general agent whose activities are limited exclusively to activities allowed under such license.
Agency Fee:
$200
Before you Apply:
All basic organizational documents
Includes articles of incorporation, articles of association, partnership agreement, trade name certificate, trust agreement, shareholder agreement, and other applicable documents and all amendments to such documents, bylaws, rules, regulations, or similar documents regulating the internal affairs of the applicant.
Bigraphical information about the individuals responsible for the TPA
The names, addresses, official positions, professional qualifications and biographical affidavit of the individuals who are responsible for the conduct of affairs of the applicant
Includes all members of the board of directors, board of trustees, executive committee or other governing board or committee, the principal officers in the case of a corporation or the partners or members in the case of a partnership or association, shareholders holding directly or indirectly ten percent or more of the voting securities of the applicant and any other person who exercises control or influence over the affairs of the applicant.
Financial Statements
Annual financial statements or reports for the two most recent years that prove that the applicant is solvent, and such other information the director may require.
Business Plan
A statement describing the business plan including information on staffing levels and activities proposed in this state and nationwide.
Includes: a. Names and titles of the officers of the corporation b. Who owns the business c. Number of employees d. Number of claims processed e. Number of claims processors f. Type of training program for processors g. Marketing plans h. EDP hardware and software utilized
Proof of agent agreements
If the applicant will be managing the solicitation of new or renewal business, proof that it employs or has contracted with an agent licensed in this state for solicitation and taking applications.
Any applicant that intends to directly solicit insurance contracts or to otherwise act as an insurance agent must provide proof that it has a license as an insurance agent in this state.
Banking information
Identify the federally insured or state-insured financial institution where you maintain your fiduciary account.
A statement of the duties the TPA is intending to perform on behalf of the insurer and the lines, classes, or types of insurance the TPA will be administering.
At the discretion of the state, additional information may be required.
The complete names and addresses of all insureds with which the third-party administrator had a written agreement during the preceding fiscal year. The term "insurer" shall include, but not limited to, an employer who is approved by the Nebraska Workers' Compensation Court as a self-insurer.
Financial statements for the third-party administrator including a balance sheet and an income statement for the most recent complete calendar or fiscal year. If audited financial statements are not available by the due date, please submit unaudited at the time of filing online and the audited copies when they are available to kristy.hadden@nebraska.gov. If no financials are available by March 1, please contact Kristy Hadden at kristy.hadden@nebraska.gov to request an extension for the financial filing.
Documentation of any material change in its ownership or control of other fact or circumstance affecting its qualification for a Certificate of Authority that has not previously been reported including, but not limited to, the following:
Basic organization documents of the TPA including any articles of incorporation, articles of association, partnership agreement, trade name certificate, trust agreement, shareholder agreement, and other applicable documents.
Basic organization documents of the TPA including any articles of incorporation, articles of association, partnership agreement, trade name certificate, trust agreement, shareholder agreement, and other applicable documents.
Names, addresses, official positions, professional qualifications and biographical affidavit of all positions submitted with the application pursuant to Neb. Rev. Stat. §44-5812 (2) (c).
Documentation that the applicant has received approval or accreditation by the American Accreditation HealthCare Commission/URAC, or a similar organization which has standards for utilization review agents that are substantially similar to the standards of the American Accreditation HealthCare Commission/URAC, and which has been approved by the director
A list of the principal officers of the entity responsible for its operation, management, and control
Registration Renewal
Agency Fee:
$100
Due:
Biennially by the date of issuance.
Notes:
There is no form, instead submit a statement describing any changes in information or documentation submitted with the initial application.
Filing fees depend on your individual situation. We do our best to calculate your filing fees
upfront and collect those fees today so we can get started. Your specialist will determine your
exact filing fees and invoice additional fees if required.
