As used in the Nebraska Life and Health Insurance Guaranty Association Act, unless the context otherwise requires: (1) Account shall mean any of the three accounts created pursuant to section 44-2705;
(2) Association shall mean the Nebraska Life and Health Insurance Guaranty Association created by section 44-2705;
(3) Director shall mean the Director of Insurance;
(4) Contractual obligation shall mean any obligation under a policy or contract or portion of such policy or contract for which coverage is provided under section 44-2703;
(5) Covered policy shall mean any policy or contract or portion of such policy or contract which is not subject to assessment and for which coverage is provided under section 44-2703;
(6) Impaired insurer shall mean a member insurer which, after August 24, 1975, (a) is deemed by the director to be potentially unable to fulfill its contractual obligations and is not an insolvent insurer or (b) is placed under an order of rehabilitation or conservation by a court of competent jurisdiction;
(7) Insolvent insurer shall mean a member insurer which after August 24, 1975, becomes insolvent and with respect to which there is a final determination of insolvency by a court of competent jurisdiction;
(8) Member insurer shall mean any person authorized to transact in this state any kind of insurance provided for under section 44-2703. Member insurer shall include any person whose license or certificate of authority may have been suspended or revoked, but shall not in any event include: (a) A nonprofit hospital or medical service organization; (b) A health maintenance organization unless such organization is controlled by an insurance company licensed by the Department of Insurance under Chapter 44; (c) A fraternal benefit society; (d) A mandatory state pooling plan;
(e) An unincorporated mutual association; (f) An assessment association operating under Chapter 44 which issues only policies or contracts subject to assessment; or (g) A reciprocal or interinsurance exchange which issues only policies or contracts subject to assessment;
(9) Premiums shall mean direct gross insurance premiums and annuity considerations written on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. Premiums shall not include premiums and considerations on contracts between insurers and reinsurers. As used in section 44-2708, premiums are those for the calendar year preceding the determination of impairment or insolvency;
(10) Person shall mean any individual, corporation, partnership, limited liability company, association, or voluntary organization;
(11) Resident shall mean any person who resides in this state at the time a member insurer is determined to be an impaired or insolvent insurer and to whom a contractual obligation is owed; and
(12) Supplemental contract shall mean any agreement entered into for the distribution of policy or contract proceeds.
