Delaware Code Title 18 Sec. 1902 – Home state regulation of nonadmitted insurance
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(a) The placement of nonadmitted insurance business shall be subject to the statutory and regulatory requirements solely of the insured’s home state as defined in this chapter.
Terms Used In Delaware Code Title 18 Sec. 1902
- nonadmitted insurance: means any property and casualty insurance permitted to be placed directly or through a surplus lines broker with a nonadmitted insurer eligible to accept such insurance. See Delaware Code Title 18 Sec. 1904
- state: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, and American Samoa. See Delaware Code Title 18 Sec. 1904
(b) This section may not be construed to preempt any law, rule, or regulation that restricts the placement of workers’ compensation insurance or excess insurance for self-funded workers’ compensation plans with a nonadmitted insurer.