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DE SB230

Bill

Status

Passed

7/12/2012

Primary Sponsor

Bryon Short

Click for details

Origin

Senate

146th General Assembly

AI Summary

  • Adds a trend test for property and casualty insurers at a 3.0 multiplier of Authorized Control Level RBC to trigger Company Action Level Event status when total adjusted capital falls between Company Action Level RBC and 3.0 times Authorized Control Level RBC.

  • Expands confidentiality provisions to prohibit the Commissioner and authorized persons from testifying in private civil actions regarding confidential RBC documents and materials.

  • Authorizes the Commissioner to share confidential RBC information with other state, federal, and international regulatory agencies, NAIC affiliates, and law enforcement authorities while maintaining confidentiality protections.

  • Allows the Commissioner to receive confidential information from NAIC and other jurisdictions and to enter into agreements governing the sharing and use of such information.

  • Clarifies that disclosure to the Commissioner or authorized sharing does not waive applicable privileges or confidentiality claims under this amendment.

Legislative Description

An Act To Amend Title 18 Of The Delaware Code Relating To Risk-based Capital (rbc) For Insurers.

Last Action

Signed by Governor

7/12/2012

Committee Referrals

Economic Development/Banking/Insurance/Commerce6/19/2012
Insurance5/16/2012

Full Bill Text

No bill text available