Nebraska Statutes 44-245. All-lines insurer; impairment or insolvency; liabilities; how charged
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In the event of impairment or insolvency of an all-lines insurer, the excess of the liabilities of one class of insurance over the accumulated assets attributable to that class of insurance may be charged as necessary against the assets of the other class only to the extent that assets attributable to such other class exceed the amount of reserves and other liabilities of such other class.
Terms Used In Nebraska Statutes 44-245
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.