Title 18, Insurance Code

§ 405. Certificate of authority; termination. (a) The certificate of authority issued by the Commissioner to a workers’ compensation self-insurance group authorizes the group to provide workers’ compensation benefits and employer’s liability coverage. The certificate of authority…

§ 406. Examinations. The Commissioner, pursuant to Chapter 5 of this title, may examine the affairs, transactions, accounts, records and assets and liabilities of each group as often as the Commissioner deems advisable. The expense of such examinations shall be assessed against t…

§ 407. Board of trustees; membership, powers, duties and prohibitions. Each group shall be operated by a board of trustees which shall consist of not less than 5 persons whom the members of a group elect for stated terms of office. At least 2/3 of the trustees shall be employees,…

§ 408. Group membership; termination; liability. (a) An employer joining a workers’ compensation self-insurance group after the group has been issued a certificate of authority shall: (1) Submit an application for membership to the board of trustees or its administrator; and (2) …

§ 409. Service companies. (a) No service company or its employees, officers or directors shall be an employee, officer or director of, or have either a direct or indirect financial interest in, an administrator. No administrator or its employees, officer or directors shall be an …

§ 410. Licensing of agent. Except for a salaried employee of a group, its administrator or its service company, any person soliciting membership for a workers’ compensation self-insurance group must be licensed as provided in Chapter 17 of this title.70 Del. Laws, c. 540, § 1;

§ 411. Financial statements and other reports. (a) Each group shall submit to the Commissioner a statement of financial condition audited by an independent certified public accountant on or before the last day of the sixth month following the end of the group’s fiscal year. The f…

§ 412. Taxes. Groups shall be subject to subchapter V of Chapter 23 of Title 19 for the payment of premium tax.70 Del. Laws, c. 540, § 1;

§ 413. Fees and assessments. Groups shall be subject to subchapter V of Chapter 23 of Title 19 for the payment of fees and assessments.70 Del. Laws, c. 540, § 1;

§ 414. Misrepresentation prohibited. No person shall make a material misrepresentation or omission of a material fact in connection with the solicitation of membership of a group nor violate any provision of Chapters 17 and 23 of this title or any regulations thereunder.70 Del. L…

§ 415. Investments. Funds not needed for current obligations may be invested by the board of trustees in accordance with Chapters 11 and 13 of this title.70 Del. Laws, c. 540, § 1;

§ 416. Rates and reporting of rates. (a) Every workers’ compensation self-insurance group shall file and adhere to rates, rules and classifications pursuant to Chapter 26 of this title. (b) Premium contributions to the group shall be determined by applying the rates and rules to …

§ 417. Refunds. (a) Any moneys for a fund year in excess of the amount necessary to fund all obligations for that fund year may be declared to be refundable by the board of trustees not less than 12 months after the end of the fund year with the Commissioner’s approval. (b) Each …

§ 418. Premium payment; reserves. (a) Each group shall establish to the satisfaction of the Commissioner a premium payment plan which shall include: (1) An initial payment by each member of at least 25% of that member’s annual premium before the start of the group’s fund year; an…

§ 419. Deficits and insolvencies. (a) If the assets of a group are at any time insufficient to enable the group to discharge its legal liabilities and other obligations and to maintain the reserves required of it under this chapter, it shall forthwith make up the deficiency or le…

§ 420. Guaranty mechanism. In the event of a liquidation pursuant to § 419 of this title, after exhausting the security required pursuant to § 404(b)(2) of this title, the Commissioner may levy an assessment against all groups to assure prompt payment of benefits. The assessment …

§ 421. Monetary penalties. After notice and opportunity for a hearing, the Commissioner may impose a monetary penalty on any person or group found to be in violation of any provision of this chapter or title or of any rules or regulations pursuant to § 329 of this title and Chapt…

§ 422. Cease and desist orders. (a) After notice and opportunity for a hearing, unless there are exigent circumstances, the Commissioner may issue an order requiring a person or group to cease and desist from engaging in an act or practice found to be in violation of any provisio…

§ 423. Revocation of certificate of authority. (a) After notice and opportunity for a hearing, the Commissioner may revoke or suspend a group’s certificate of authority if it: (1) Is found to be insolvent or impaired; (2) Fails to pay any premium tax, regulatory fee or assessment…

§ 424. Notice and hearings. All notices and hearings shall be as provided in Chapter 3 of this title and Chapter 101 of Title 29.70 Del. Laws, c. 540, § 1;

§ 425. Rules and regulations. The Commissioner shall have power to make rules and regulations in order to implement this chapter.70 Del. Laws, c. 540, § 1;