DE HB162

Allows Delaware domestic insurers with at least $15,000,000 in policyholder surplus to be designated as domestic surplus lines insurers with board resolution and Insurance Commissioner approval.

Permits domestic surplus lines insurers to write surplus lines insurance in Delaware only when procured through surplus lines insurance channels, subject to surplus lines premium tax under Section 1917.

Prohibits domestic surplus lines insurers from issuing policies required to satisfy motor vehicle financial responsibility, workers' compensation, or other state-mandated insurance coverage requirements.

Exempts domestic surplus lines insurers from requirements in Chapters 42 and 44 of Title 18, while requiring compliance with all other Delaware domestic insurer requirements.

Exempts surplus lines insurance from rate and form filing requirements, codifying existing practice.