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146th General Assembly
House Bill # 162
  (Tabled in Committee)  

Primary Sponsor: B. Short Additional Sponsor(s):    Sen. McDowell
CoSponsors: { NONE...}
Introduced on : 06/07/2011
Long Title:AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO DOMESTIC SURPLUS LINES INSURERS.
Synopsis:This Act makes two changes to Delaware’s surplus lines insurance: First, this Act allows surplus lines insurers who are domesticated in Delaware to write surplus lines insurance in Delaware. Currently, such insurers are not allowed to write surplus lines insurance in Delaware. A domestic surplus lines insurer would have to prove adequate solvency and be approved by the Insurance Commissioner. Allowing Delaware domestic surplus lines insurers to write insurance in Delaware could attract new companies to domesticate in Delaware. Secondly, the Act will also expand the market of surplus lines insurance for Delaware residents, which is particularly beneficial to those with property in the coastal areas of the State. The second provision of the Act makes it clear that surplus lines insurers, including the domestic surplus lines insurer established herein, are exempt from rate and form filings. This would codify the current practice of exempting surplus lines insurers from rate and form filings.
Current Status: Stricken   On   03/20/2012
  (Tabled in Committee)  
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Fiscal Notes/Fee Impact:Not Required
Actions History:
Mar 20, 2012 - Stricken
Jun 07, 2011 - Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
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