Bill
Bill > LB1035
NE LB1035
NE LB1035Change and provide limitations on the rating system an insurer can file under the Property Casualty Insurance Rate and Form Act
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/16/2026
01/16/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the Property and Casualty Insurance Rate and Form Act; to amend sections 44-7501 and 44-7508, Reissue Revised Statutes of Nebraska; to change provisions relating to rating systems under the act; to provide a limitation on the rating system an insurer can file for insurance for homeowners; to harmonize provisions; to repeal the original sections; and to declare an emergency.
AI Summary
This bill amends the Property and Casualty Insurance Rate and Form Act by adding a new provision that limits how much an insurer can increase homeowners insurance rates. Specifically, for any new rate filing or modification submitted on or after July 1, 2026, an insurer cannot propose a rate that is more than ten percent higher than the highest rate previously approved by the director (the state official overseeing insurance) within the preceding twelve months. This change is incorporated into the existing law that requires insurers to file their rating systems, which are the methods used to determine insurance prices, with the director for approval. The bill also repeals the original versions of the sections it amends and declares an emergency, meaning it will take effect immediately upon passage.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Banking, Commerce and Insurance Hearing (13:30:00 2/23/2026 Room 1507) (on 02/23/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63067 |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB1035.pdf |
| Kauth FA694 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA694.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB1035.pdf |
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