DE HB81

Amends § 5006 of Delaware's Insurance Code to revise the Insurance Commissioner's examination powers for registered insurers and their affiliates

Changes language from "order to produce" to "examine" and clarifies the Commissioner can examine insurers to assess their financial condition and enterprise risk from controlling parties or holding company systems

Restructures the examination authority into two subsections: (1) allowing the Commissioner to order production of records, books, and information in an insurer's possession or accessible through contractual relationships; (2) allowing orders for information not in the insurer's possession if obtainable through reasonable means

Establishes penalties of $500 per day for delayed compliance if an insurer's explanation for inability to obtain requested information is found to be without merit, or allows suspension or revocation of the insurer's license

Aligns Delaware insurance law with the National Association of Insurance Commissioners' Model Holding Company Act regarding regulatory examination and compliance oversight