Adopt the Nebraska Protection of Seniors from Insurance Exploitation Act

LB 1138 adopts the Nebraska Protection of Seniors from Insurance Exploitation Act to protect seniors and vulnerable adults (defined as those 60+ or under guardianship) from financial exploitation in insurance transactions. The bill allows insurers and trained insurance producers to delay payments or transactions they reasonably suspect could lead to exploitation, and to report suspected cases to the Director of Insurance without facing legal liability. Insurers must notify the Director within seven business days of delaying a transaction and provide updates during their internal review. This law aims to give insurers a clear, protected pathway to intervene while respecting customer instructions, without creating new duties for insurers.