Delaware House Bill 162 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on June 7 2011 - 25% progression, died in chamber
Action: 2012-03-20 - Stricken
Text: Latest bill text (Draft #1) [HTML]

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.

An Act To Amend Title 18 Of The Delaware Code Relating To Domestic Surplus Lines Insurers.

Sen. Harris McDowell [D]

Rep. Bryon Short [D]

Date	Chamber	Action
2012-03-20		Stricken
2011-06-07		Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis146.nsf/2bede841c6272c888025698400433a04/be9c1954dcc4a790852578860069d865?OpenDocument
Text	http://legis.delaware.gov/LIS/lis146.nsf/vwLegislation/HB+162/$file/legis.html?open