Delaware Code Title 18 Sec. 6901 – Finding; purpose
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(a) It is determined and declared as a matter of legislative finding that captive insurance companies can serve a valuable risk management function, and that their responsible utilization and the growth of the captive insurance industry in the State of Delaware are in the best interests of this State.
Terms Used In Delaware Code Title 18 Sec. 6901
- Insurance: has the meaning given such term in § 102 of this title. See Delaware Code Title 18 Sec. 6902
- State: means the State of Delaware, and "state" means any other state, district, commonwealth or possession of the United States of America. See Delaware Code Title 18 Sec. 6902
(b) It is further determined and declared that the purpose and policy of this chapter shall be:
(1) To provide for the regulation of captive insurance companies consistent with their nature and purpose;
(2) To provide flexibility and opportunity to captive insurance companies and to persons utilizing them; and
(3) To foster economic development in this State through the growth of the captive insurance industry.