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RULE 70 SELF-INSURANCE PURPOSE
A. The purpose of Rules 70 through 76 is to establish procedures and requirements for an employer seeking approval to self-insure its liability under the Nebraska Workers' Compensation Act,and for approval by the court to self-insure.
B.No employer may self-insure its liability under the Act or make any representation that it self-insures its liability under the Act unless it has been approved by the court pursuant to these rules.
C. All financial information required by the court of an employer seeking approval to self-insure or an employer approved to self-insure shall be confidential.
D. An employer may request approval to self-insure a subsidiary,division,or other entity provided a majority interest is owned or controlled by such employer. Majority interest means more than 50 percent of voting stock,or more than 50 percent of members or directors if there is no voting stock.
E. An employer approved to self-insure may not delegate the ultimate responsibility for complying with the Act or rules of the court to any other party.
Section 48-145,RS. Supp.,2016. Effective date: November 16, 2006.