Change and provide limitations on the rating system an insurer can file under the Property Casualty Insurance Rate and Form Act

This bill limits how much homeowners insurance rates can increase in Nebraska. Starting July 1, 2026, insurers cannot file rates more than 10% higher than the highest rate approved in the previous 12 months for homeowners insurance. Insurers must also file detailed descriptions of their rating systems with the state insurance director, including how they cover specific risks and how new filings relate to existing ones. These changes directly affect homeowners insurance companies and policyholders in Nebraska, aiming to provide rate stability for homeowners.