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DE HB473
Bill
Status
6/30/2010
Primary Sponsor
Bryon Short
Click for details
AI Summary
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Property and casualty insurance companies doing business in Delaware must annually submit a "Statement of Actuarial Opinion" from an appointed actuary to the Department of Insurance
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Delaware-domiciled insurers must also submit an Actuarial Opinion Summary and prepare an Actuarial Report with supporting work papers
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If a company fails to provide acceptable supporting documentation, the Commissioner may hire a qualified actuary at the company's expense to review and prepare the necessary materials
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The Statement of Actuarial Opinion is a public document, but Actuarial Reports, work papers, and Opinion Summaries are confidential and exempt from Delaware's Freedom of Information Act
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The Commissioner may share confidential materials with other regulatory agencies, the NAIC, and law enforcement authorities if recipients agree to maintain confidentiality
Legislative Description
An Act To Amend Title 18 Of The Delaware Code Requiring Property And Casualty Insurers To Annually Submit A Statement Of Actuarial Opinion.
Last Action
Passed by House of Representatives. Votes: Passed 40 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
6/30/2010