SPONSOR:

Rep. B. Short & Sen. Bushweller

Reps. Baumbach, Brady, Q. Johnson, Miro; Sen. Sokola

HOUSE OF REPRESENTATIVES

149th GENERAL ASSEMBLY

HOUSE BILL NO. 303

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-fifths of all members elected to each house thereof concurring therein):

Section 1. Amend Chapter 24, Title 18 of the Delaware Code as shown by strike through and insertions as shown by underline as follows:

§ 2415 Funding.

The costs of administration and operation of the Delaware Insurance Fraud Prevention Bureau shall be borne by all of the insurance companies admitted or authorized to transact the business of insurance in this State. The Commissioner shall assess $750 $900.00 annually against each insurance company to provide the funds necessary for the operation of the Bureau.

SYNOPSIS

This bill increases the annual assessment to each insurance company admitted or authorized to transact the business in Delaware from $750 to $900 for the costs of administration and operation of the Insurance’s Fraud Prevention Bureau.