Delaware Code Title 18 Sec. 4210 – Duties and powers of the Commissioner
(a) The Commissioner shall:
(1) Notify the Association of the existence of an insolvent insurer not later than 3 days after he or she receives notice of the determination of the insolvency;
(2) Upon request of the Board of Directors, provide the Association with a statement of the net direct written premiums of each member insurer.
Terms Used In Delaware Code Title 18 Sec. 4210
- Association: means the Delaware Insurance Guaranty Association created under § 4206 of this title. See Delaware Code Title 18 Sec. 4205
- Commissioner: means the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 4205
- Insolvent insurer: means an insurer licensed to transact insurance in this State, either at the time the policy was issued or when the insured event occurred, and against whom an order of liquidation with a finding of insolvency has been entered after July 5, 1991, by a court of competent jurisdiction in the state of domicile or in this State under Chapter 59 of this title and which order of liquidation has not been stayed or been the subject of a writ of supersedeas or other comparable order. See Delaware Code Title 18 Sec. 4205
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Member insurer: means any person who:
- Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
- Net direct written premiums: means direct gross premiums written in this State on insurance policies to which this chapter applies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. See Delaware Code Title 18 Sec. 4205
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) The Commissioner may:
(1) Require that the Association notify the insureds of the insolvent insurer and any other interested parties of the determination of insolvency and of their rights under this chapter. Such notification shall be by mail at their last known address, where available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation shall be sufficient.
(2) Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this State of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the Commissioner may levy a fine on any member insurer which fails to pay an assessment when due. Such fine shall not exceed 5% of the unpaid assessment per month, except that no fine shall be less than $100 per month.
(3) Revoke the designation of any servicing facility if he or she finds claims are being handled unsatisfactorily.
(c) Any final action or order of the Commissioner under this chapter shall be subject to judicial review in a court of competent jurisdiction.
18 Del. C. 1953, § ?4210; 57 Del. Laws, c. 437; 70 Del. Laws, c. 186, § ?1;