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Nebraska Workers' Compensation Legal Library


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RULE 74

SELF-INSURANCE EXCESS INSURANCE

A. Specific excess workers' compensation insurance shall be required ofeach approved self-insurer. Aggregate excess insurance may be required as a condition ofapproval to self-insure, at the discretion ofthe court. Political subdivisions with either unlimited rate making authority or having taxing authority with a tax base ofat least $2,500,000,000 and with a general obligation bond rating from Standard & Poor or Moody's Investor Service of"A" or better may, at the discretion ofthe court, be excluded from this requirement.

B. The specified upper limit ofexcess workers' compensation coverage must be "statutory" and the retention amounts must be approved by the court.

C. Each excess workers' compensation policy must be issued by a corporation, association, or organization authorized and licensed by the Nebraska Department ofInsurance to transact the business ofworkers' compensation insurance in this state.

D. All excess workers' compensation policy forms and endorsements must be filed with and approved by the Nebraska Department ofInsurance. The Nebraska Amendatory Endorsement is required for all excess workers' compensation policies.

E. Excess workers' compensation policies may not include deductible provisions or deductible endorsements.

F. An exact copy ofeach excess workers' compensation policy must be filed with the court, in its entirety, including any endorsements, amendments, and schedu1es.

Section 48-145, RS. Supp., 2016. Effective date: November 16, 2006.



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