NebraskaBill would cap insurers' rate requests for homeowners coverage
LB 1035 proposed limiting insurers' rate requests for homeowners coverage to no more than 10% above a recently approved rate, starting with filings on or after July 1, 2026.
What it does
For covered homeowners insurance filings, insurers could not seek a rate more than 10% above the highest rate approved in the previous 12 months.
Argument forThe cap could limit how far insurers may seek to raise rates above a recently approved level for homeowners coverage.
Argument againstThe cap could make it harder for insurers to seek higher rates when risks or costs change, which may affect homeowners seeking coverage.
More detail
Insurers could not seek a rate more than 10% above the highest rate the director approved in the previous 12 months. It covers insurers filing homeowners insurance rating systems with the director. The limit applies to a filing or modification of a homeowners insurance rating system. The limit would apply to filings or modifications submitted on or after July 1, 2026.
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Where it stands
- Introduced
- Postponed indefinitely
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 17Indefinitely postponedPostponed indefinitely
- Jan 23Notice of hearing for February 23, 2026
- Jan 16Referred to Banking, Commerce and Insurance CommitteeMinor
- Jan 15Kauth FA694 filedMinor
- Jan 14Date of introductionIntroduced
Consumer Protection