DE HB334

Authorizes the Insurance Commissioner to issue conditional certificates of authority to captive insurance company applicants, allowing them to conduct business while the Commissioner completes application review.

Requires applicants for conditional certificates to provide evidence of minimum required capital and surplus and a signed compliance statement from the company owner certifying that application materials meet all Chapter 69 licensing requirements.

Establishes a $100 non-refundable fee for applications for conditional certificates of authority.

Permits the Commissioner to summarily revoke conditional certificates without legal recourse if the company fails to maintain required capital and surplus or if application materials do not comply with licensing requirements within 6 months of issuance.

Makes technical corrections to conform existing captive insurance law to Delaware Legislative Drafting Manual standards.