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DE HB162
Bill
Status
Introduced
5/13/2009
Primary Sponsor
Michael Mulrooney
Click for details
AI Summary
- Allows Delaware domestic insurers with at least $15 million in policyholder surplus to become designated as domestic surplus lines insurers with Commissioner approval
- Domestic surplus lines insurers may only write surplus lines insurance in Delaware when procured through the surplus lines chapter, with premiums subject to surplus lines premium tax
- Prohibits domestic surplus lines insurers from issuing policies for motor vehicle financial responsibility, workers' compensation, or other state-mandated insurance coverage
- Exempts domestic surplus lines insurers from rate and form filing requirements, codifying current practice for surplus lines insurers
- Exempts domestic surplus lines insurers from Chapters 42 and 44 of Title 18 while requiring compliance with all other Delaware domestic insurer requirements
Legislative Description
An Act To Amend Title 7 Of The Delaware Code Relating To Vessel To Vessel Petroleum Transfers.
Last Action
Stricken
4/22/2010
Committee Referrals
Natural Resources5/13/2009
Full Bill Text
No bill text available