DE HB379

Amends the definition of "Qualified Risk Manager" in Delaware's Nonadmitted Insurance Act to correct a drafting error and align with the federal Nonadmitted and Reinsurance Reform Act (NRRA) of 2010.

Removes previous requirements based on employer net worth ($20 million), annual revenues ($50 million), employee count (500+ or 1,000+ affiliated), or non-profit/public entity budgets ($30 million).

Establishes new qualification criteria: the person must be an employee or third-party consultant of the commercial policyholder who provides skilled services in loss prevention, loss reduction, risk analysis, or insurance purchase.

Requires qualified risk managers to have either a bachelor's degree in risk management, business administration, finance, economics, or related field plus 3 years of experience, or 10 years of experience, or 7 years of experience plus a professional designation (CPCU, ARM, CRM, RIMS Fellow, or equivalent).

Permits state insurance commissioners to determine additional educational fields and professional designations that demonstrate minimum competency in risk management.