Section 210-55-005 - Director's authority005.01 For the purposes of making a determination of an insurer's financial condition under this rule, the Director may:005.01A Disregard any credit or amount receivable resulting from transactions with a reinsurer that is insolvent, impaired or otherwise subject to a delinquency proceeding;005.01B Make appropriate adjustments including disallowance to asset values attributable to investments in or transactions with parents, subsidiaries, or affiliates consistent with the NAIC Accounting Practices and Procedures Manual, state laws and rules;005.01C Refuse to recognize the stated value of accounts receivable if the ability to collect receivables is highly speculative in view of the age of the account or the financial condition of the debtor; or005.01D Increase the insurer's liability in an amount equal to any contingent liability, pledge, or guarantee not otherwise included if there is a substantial risk that the insurer will be called upon to meet the obligation undertaken within the next twelve-month period.005.02 If the Director determines that the continued operation of the insurer licensed to transact business in this state may be hazardous to its policyholders, creditors or the general public, then the Director may, upon a determination, take such action as is authorized by the Insurers Supervision, Rehabilitation and Liquidation Act, NEB. REV. STAT. § 44-4801, ET SEQ. In addition to taking any action authorized by § 44-4801 ET SEQ. and § 44-134, the Director may issue an order requiring such insurer to:005.02A Reduce the total amount of present and potential liability for policy benefits by reinsurance;005.02B Reduce, suspend or limit the volume of business being accepted or renewed;005.02C Reduce general insurance and commission expenses by specific methods;005.02D Increase the insurer's capital and surplus;005.02E Suspend or limit the declaration and payment of dividend by an insurer to its stockholders or to its policyholders;005.02F File reports in a form acceptable to the Director concerning the market value of an insurer's assets;005.02G Limit or withdraw from certain investments or discontinue certain investment practices to the extent the Director deems necessary;005.02H Document the adequacy of premium rates in relation to the risks insured;005.02I File, in addition to regular annual statements, interim financial reports on the form adopted by the National Association of Insurance Commissioners or in such format as promulgated by the Director;005.02J Correct corporate governance practice deficiencies, and adopt and utilize governance practices acceptable to the Director;005.02K Provide a business plan to the Director in order to continue to transact business in the state;005.02L Notwithstanding any other provision of law limiting the frequency or amount of premium rate adjustments, adjust rates for any non-life insurance product written by the insurer that the Director considers necessary to improve the financial condition of the insurer. If the insurer is a foreign insurer the Director's order may be limited to the extent provided by statute.
210 Neb. Admin. Code, ch. 55, § 005