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Committee hears bill to allow electronic notice for mutual insurance holding companies
Summary
LB967 would let mutual insurance holding companies deliver required annual‑meeting notices electronically, require proof of delivery or publication, and preserve members' right to receive printed materials at no cost; industry witnesses said it would reduce costs and paper waste without reducing member protections.
Joshua Chrystolear introduced LB967 as a measure to align Nebraska statutes with digital communications by defining reasonable electronic notice and ensuring that members can opt for printed materials free of charge. Chrystolear said reasonable notice could be direct email or publication on a designated website, but must include all statutorily required information and records demonstrating delivery or publication.
Robert Bell (Nebraska Insurance Federation), Wes Sutter (Mutual of Omaha) and representatives of Blue Cross Blue Shield supported the bill, saying it modernizes a notice regime that historically relied on first‑class mail and can result in high printing and postage costs with low engagement. Sutter said Mutual of Omaha mailed 1,400,000 paper notices for an annual meeting yet received responses from only about 3–4% of policyholders while incurring substantial printing and postage costs.
Witnesses emphasized the bill preserves policyholder rights to attend, vote and obtain materials in paper form at no cost. The sponsor waived closing comments and the committee recorded proponent testimony without opponents at the hearing.
