Title 18 — Insurance Code
83 chapters · 1,008 sections in this title.
18 Del. C. § 560. Definitions.
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§ 560. Definitions. As used in this part. (1) “Non-U.S. insurer” means an insurer or reinsurer organized under the laws of a foreign country. (2) “United States branch” or “U.S. branch” means the business unit through which business is transacted within the United States by a non…
18 Del. C. § 561. Scope.
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§ 561. Scope. This chapter applies to a U.S. branch using this State as a state of entry to transact insurance in the United States. The U.S. branch shall also be subject to all state laws applicable to an insurer domiciled in this State with the exception of Chapter 50 of this t…
18 Del. C. § 562. Authorization of entry.
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§ 562. Authorization of entry. (a) A non-U.S. insurer may use this State as a state of entry to transact insurance in the United States through a U.S. branch by: (1) Qualifying as an insurer licensed to do business in this State; and (2) Establishing a trust account, pursuant to …
18 Del. C. § 563. Maintenance of trust account.
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§ 563. Maintenance of trust account. The assets in the trust account shall be known as “trusteed assets” and shall at all times be in an amount equal to the U.S. branch’s reserves and other liabilities plus the minimum capital and surplus or authorized control level risk based ca…
18 Del. C. § 564. Requirements for trust agreement.
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§ 564. Requirements for trust agreement. (a) The deed of trust and all amendments thereto shall be authenticated in such form and manner as the Commissioner may prescribe and shall not be effective unless approved by the Commissioner upon a finding that: (1) A deed of trust and i…
18 Del. C. § 565. Reporting requirements for U.S. branches of non-U.S. insurers.
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§ 565. Reporting requirements for U.S. branches of non-U.S. insurers. (a) In addition to other requirements of this chapter, every authorized U.S. branch shall, not later than the March 1 in each year and 45 days after the end of each of the first 3 calendar-year quarters, file w…
18 Del. C. § 566. Additional requirements for U.S. branch license.
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§ 566. Additional requirements for U.S. branch license. (a) Before issuing any new or renewal license to any U.S. branch, the Commissioner may require satisfactory proof, either in the non-U.S. insurer’s charter or by an agreement evidenced by a duly certified resolution of its b…
18 Del. C. § 567. Authority of Commissioner.
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§ 567. Authority of Commissioner. Whenever it appears to the Commissioner from any annual or quarterly statement or trusteed surplus statement or any other report that a U.S. branch’s trusteed surplus is reduced below minimum capital and surplus or the authorized control level ri…