44-5502 Terms, defined. - Nebraska Statutes

44-5502. Terms, defined.For purposes of the Surplus Lines Insurance Act:(1) Department means the Department of Insurance;(2) Director means the Director of Insurance;(3) Insurer has the same meaning as in section 44-103;(4) Foreign, alien, admitted, and nonadmitted, when referring to insurers, has the same meanings as in section 44-103; and (5) Industrial insured means an insured that:(a) Procures the insurance of any risk or risks other than sickness and accident insurance and life and annuity contracts, has fifty full-time employees, and has aggregate annual premiums for insurance on all risks other than workers' compensation insurance that total at least one hundred thousand dollars; and(b) Uses, to procure such insurance, the services of a salaried full-time employee who counsels or advises his or her employer regarding the insurance interests of the employer or the employer's subsidiaries or business affiliates, if the employee does not sell or solicit insurance or receive a commission. SourceLaws 1992, LB 1006, § 2; Laws 2007, LB117, § 22.