House Bill 44
151st General Assembly (Present)
Senate Banking, Business & Insurance 3/18/21
Awaiting consideration in Committee
AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CREDIT FOR REINSURANCE.
This Act reflects the National Association of Insurance Commissioner’s revisions to the Model Credit for Reinsurance Act. The revisions make the law consistent with provisions of covered agreements with the European Union and United Kingdom with respect to reinsurance collateral requirements. The changes will also provide reinsurers domiciled in National Association of Insurance Commissioners-qualified jurisdictions other than within the EU (currently, Bermuda, Japan and Switzerland) with the possibility of similar reinsurance collateral reductions. This is an accreditation bill.
Takes effect upon being signed into law