DE SB132

Expands the Delaware Life and Health Insurance Guaranty Association to cover managed care organizations and health maintenance organizations in addition to traditional insurers.

Adds new exclusions from coverage including structured settlement annuity factoring transactions, employer-owned life insurance policies, and Medicare/Medicaid-related benefits.

Clarifies coverage limitations and benefit maximums for different policy types, including $300,000 for disability income insurance and $500,000 for health benefit plans.

Requires long-term care insurance assessments to be split equally (50/50) between accident and health insurers and life and annuity insurers.

Grants the Association authority to file for actuarially justified rate increases on policies it covers and to issue substitute coverage with alternative crediting methods for index-based products.