DE SB116

Expands definition of "transact" insurance to include negotiating, selling, soliciting, and settling/adjusting claims, applying licensing requirements broadly to insurance producers, adjusters, and appraisers.

Adds new grounds for license denial, suspension, or revocation including failure to respond to Department inquiries within 21 days and presenting false or misleading documents in business conduct.

Implements automatic license lapse for failure to pay renewal fees or meet continuing education requirements without Department notice, and establishes one-year ineligibility period for denied applicants to reapply.

Requires business entities with inactive designated responsible licensees to have their licenses immediately suspended until a licensee in good standing is designated.

Adds crop insurance and workers compensation insurance to the lines of authority available to adjusters, and permits unlicensed individuals to receive nominal, one-time referral fees for personal lines insurance referrals that don't depend on purchase.