Nebraska Revised Statutes

Neb. Rev. Stat. § 44-103 (2026)

Terms, defined

✓ current as of July 2026

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For purposes of Chapter 44, unless the context otherwise requires:

(1) The terms company, corporation, insurance company, or insurance corporation shall include all corporations, associations, partnerships, or individuals engaged as insurers in the business of insurance;

(2) Domestic designates those companies incorporated or formed in this state;

(3) Foreign designates those companies incorporated or formed under the laws of the United States or any other state in the United States and alien designates those companies incorporated or formed under the laws of any country other than the United States;

(4) Admitted company or authorized company designates a company qualified and licensed to transact business under Chapter 44;

(5) Nonadmitted company or unauthorized company designates a company not licensed to transact business in this state under Chapter 44;

(6) Unearned premiums and net value of policies severally shall mean the liability of an insurance company upon its insurance contracts, other than accrued claims, computed by rules of valuation established herein;

(7) Profits of a mutual company shall mean that portion of its cash funds not required for payment of losses and expenses nor set apart for any purpose allowed by law;

(8) Agent or insurance agent shall mean an insurance producer;

(9) Broker or insurance broker shall mean an insurance producer;

(10) Insurance producer or producer shall mean a person required to be licensed under the laws of this state, including the Insurance Producers Licensing Act, to sell, solicit, or negotiate insurance;

(11) Adjuster or insurance adjuster shall mean a person, copartnership, or corporation who undertakes to ascertain and report the actual loss or damage to the subject matter of the insurance due to the hazard or peril insured against;

(12) Director shall mean the Director of Insurance;

(13)(a) Insurable interest shall mean every interest in property or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the insured.

(b) Insurable interest, in the matter of life and health insurance, exists when the beneficiary because of relationship, either pecuniary or from ties of blood or marriage, has reason to expect some benefit from the continuance of the life of the insured;

(14) Double insurance exists when the same party is insured by several insurers separately in respect to the same subject and interest;

(15) Overinsurance exists when a party having an insurable interest in property has insurance thereon against the same hazard or peril in excess of the actual value of his or her interest therein;

(16) Reinsurance shall mean a contract by which an insurer procures a third party to insure it against loss or liability by reason of such original insurance;

(17) Department shall mean the Department of Insurance;

(18) Rebate shall mean anything of value or the making of an agreement, expressed or implied, that will directly or indirectly diminish any premium below the amount specified in the policy but shall not include the dividend or refund paid or allowed on participating policies nor bonuses paid or allowed directly by any company upon nonparticipating policies which have been in force at least five years;

(19) Stock company shall mean a company with a capital stock that charges a fixed premium and is required to maintain the reserve provided by Chapter 44;

(20) Mutual company shall mean a company without capital stock that charges a fixed premium and is required to maintain the same reserve as a stock company;

(21) Assessment association shall mean a company that meets its losses and expenses from assessment levied upon its members; and

(22) 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.

Notes of Decisions

Cited in 16 cases (1 in the last 5 years), 1955–2023 · leading case: Diamond v. Dep't of Ins., 302 Neb. 892 (Neb. 2019).

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Diamond v. Dep't of Ins., 302 Neb. 892 (Neb. 2019). · cites it 2× “Neb. Rev. Stat. § 44-103 (10) (Reissue 2010); § 44-4049(5).”

Citizens of Humanity, LLC v. Applied Underwriters Captive Risk Assurance Co., 299 Neb. 545 (Neb. 2018). · cites it 2× “§ 44-102 (Reissue 2010), and the RPA between Citizens and AUCRA is not reinsurance, see Neb. Rev. Stat. § 44-103 (16) (Reissue 2010).”

Johnson v. Nelson, 290 Neb. 703 (Neb. 2015). · cites it 3× “Courts have also held that a busi- ness entity may have an insurable interest in the life of a key employee whose death would adversely affect the business.”

Sayah v. Metro. Prop. & Cas. Ins., 733 N.W.2d 192 (Neb. 2007). · cites it 2× “5 Neb. Rev. Stat. § 44-103 (13)(a) (Reissue 2004).”

Edward E. v. Clayton, 529 N.W.2d 523 (Neb. 1995). · cites it 2× “” Neb. Rev. Stat. § 44-103 (12) (Reissue 1993).”

Davis v. Davis, 750 N.W.2d 696 (Neb. 2008). · cites it 2× “[5] See, Neb. Rev. Stat. § 44-103 (13)(b) (Reissue 2004); 3 Lee R.”

Diamond v. State, 302 Neb. 892 (Neb. 2019). · cites it 2× “10 Neb. Rev. Stat. § 44-103 (10) (Reissue 2010); § 44-4049(5).”

Callahan v. Brant, 990 N.W.2d 1 (Neb. 2023). · cites it 2× “Before the policy was issued, Brant used a reconstruction cost cal- culator tool to estimate the cost of rebuilding the Callahans’ home, using information obtained from the Callahans and 1 See Neb. Rev. Stat. § 44-103 (8), (9), and (10) (Reissue 2021).”

Citizens of Humanity v. Applied Underwriters, 299 Neb. 545 (Neb. 2018). · cites it 2× “§ 44-102 (Reissue 2010), and the RPA between Citizens and AUCRA is not reinsurance, see Neb. Rev. Stat. § 44-103 (16) (Reissue 2010).”

Heikes v. Farm Bureau Ins. Co. of Neb., 151 N.W.2d 336 (Neb. 1967). “§§ 44-103 (8), 44-328, and 44-329, R. R. S.”

Howard v. State Farm Mut. Auto. Ins., 496 N.W.2d 862 (Neb. 1993). · cites it 2× “*631 Neb. Rev. Stat. § 44-103 (12) (Reissue 1988) defines an insurable interest as meaning “every interest in property or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the insured.”

Ryan v. Tickle, 316 N.W.2d 580 (Neb. 1982). · cites it 2× “Also, with regard to appellant’s contention that appellee did not have an insurable interest in the life of the decedent, appellee points out that the term “insurable interest” is defined in Neb. Rev. Stat. § 44-103 (13) (Reissue 1978) as follows: “Insurable interest, in the…”

Show all 16 citing cases →

— Neb. Rev. Stat. § 44-103(13) — 1 case

Kip & Andrea Richards Fam. Farm & Ranch, LLC (Bankr. D. Neb. 2020).

— Neb. Rev. Stat. § 44-103(13)(b) — 2 cases

Johnson v. Nelson, 290 Neb. 703 (Neb. 2015). “Courts have also held that a busi- ness entity may have an insurable interest in the life of a key employee whose death would adversely affect the business.”

Ehrke v. Mamot (Neb. Ct. App. 2017).

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