DE SB48

Expands the definition of "Insurer" to include affiliates and third-party service providers (agents, administrators, brokers, premium finance companies) of insurance companies undergoing delinquency proceedings, if those entities are affiliated with the failing insurer.

Grants the Court of Chancery exclusive jurisdiction over all delinquency proceedings and related disputes, while allowing receivers to seek relief from other courts with court authorization; makes arbitration provisions unenforceable unless the receiver elects to accept arbitration.

Extends statutes of limitations for receiver actions to the later of three years from the receivership order or any remaining time on the original limitation period, and allows receivers to file pleadings and notices within 60 days after a rehabilitation or liquidation order.

Prohibits defendants from asserting defenses based on improper conduct by insurer management, comparative fault, estoppel, or regulatory negligence against receiver claims, with limited exceptions for fraud in the inducement and surety bond credits.

Provides that judgments entered in violation of stays or injunctions cannot be used as evidence of liability or damages in estate claims, and clarifies the receiver is not a governmental entity for purposes of prevailing party fee awards.