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Delaware Statutes, Title 18

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Delaware/Statutes

← All Delaware coverage

Title 18, Insurance Code

84 chapters · 1,726 sections in this title.

All chapters in Title 181,726 Ch 35, GROUP AND BLANKET HEALTH INSURANCE124 Ch 33, HEALTH INSURANCE CONTRACTS109 Ch 69, CAPTIVE INSURANCE COMPANIES55 Ch 49, Organization and Corporate Powers; P…46 Ch 68, HEALTH-CARE MEDICAL NEGLIGENCE INSUR…43 Ch 29, Life Insurance and Annuity Contracts42 Ch 33a, Pharmacy Benefits Managers [For appl…39 Ch 59, REHABILITATION AND LIQUIDATION38 Ch 62, FRATERNAL BENEFIT SOCIETIES38 Ch 11, ASSETS AND LIABILITIES37 Ch 5, Authorization of Insurers and Genera…36 Ch 41, PROPERTY INSURANCE CONTRACTS36 Ch 19, DELAWARE NONADMITTED INSURANCE ACT35 Ch 25, Rates and Rating Organizations35

9 sections·Filtered byTitle 18✕Ch 18✕

18 Del. C. § 1801. Short title.
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§ 1801. Short title. This chapter may be cited as the “Managing General Agents Act.”68 Del. Laws, c. 68, § 1;
18 Del. C. § 1802. Definitions.
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§ 1802. Definitions. As used in this chapter: (1) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries. (2) “Insurer” means any person, firm, association or corporation duly licensed in this State as an insurance company pursuant to Chapt…
18 Del. C. § 1803. Licensure.
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§ 1803. Licensure. (a) No person, firm, association or corporation shall act in the capacity of an MGA with respect to risks located in this State for an insurer licensed in this State unless such person is a licensed producer in this State. (b) No person, firm, association or co…
18 Del. C. § 1804. Required contract provisions.
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§ 1804. Required contract provisions. No person, firm, association or corporation acting in the capacity of an MGA shall place business with an insurer unless there is in force a written contract between both parties which sets forth the responsibilities of each party and where b…

18 Del. C. § 1805. Duties of insurers.

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§ 1805. Duties of insurers. (a) The insurer shall have on file an independent financial examination, in a form acceptable to the Commissioner, of each MGA with which it has done business. (b) If an MGA establishes loss reserves, the insurer shall annually obtain the opinion of an…

18 Del. C. § 1806. Examination authority.

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§ 1806. Examination authority. The acts of the MGA are considered to be the acts of the insurer on whose behalf it is acting. An MGA may be examined as if it were the insurer. An MGA shall retain all records pertaining to a specific insurer until the conclusion of the regular fin…

18 Del. C. § 1807. Penalties and liabilities.

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§ 1807. Penalties and liabilities. (a) If the Commissioner finds after a hearing conducted in accordance with the Administrative Procedures Act [Chapter 100 of Title 29] that any person has violated any provision or provisions of this chapter, the Commissioner may order: (1) For …

18 Del. C. § 1808. Rules and regulations.

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§ 1808. Rules and regulations. The Commissioner of Insurance may adopt reasonable rules and regulations for the implementation and administration of this chapter.68 Del. Laws, c. 68, § 1;

18 Del. C. § 1809. Effective date.

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§ 1809. Effective date. This chapter shall take effect on September 30, 1991. No insurer may continue to utilize the services of an MGA on and after September 30, 1991, unless such utilization is in compliance with this chapter.68 Del. Laws, c. 68, § 1;