Title 18, Insurance Code

§ 905. “Surety insurance” defined. (a) Surety insurance includes: (1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; (2) Insurance guaranteeing the performance of contracts, other than insurance policies, …

§ 906. “Casualty insurance” defined. (a) Casualty insurance includes: (1) Vehicle insurance. — Insurance against loss of or damage to any land vehicle or aircraft or any draft or riding animal or to property while contained therein or thereon or being loaded or unloaded therein o…

§ 907. Marine and transportation, “wet marine” insurance defined. (a) “Marine and transportation insurance” includes: (1) Insurance against any kinds of loss or damage to: a. Vessels, craft, aircraft, cars, automobiles and vehicles of every kind, as well as all goods, freights, c…

§ 908. “Title insurance” defined. Title insurance is insurance of owners of property or others having an interest therein, or liens or encumbrances thereon, against loss by encumbrance or defective titles or invalidity or adverse claim to title.18 Del. C. 1953, § 908; 56 Del. Law…

§ 908A. “Automobile club” defined. “Automobile club” means a legal entity which, in consideration of dues, assessments or periodic payments of money, promises its members or subscribers to assist them in matters relating to motor travel or the operation, use or maintenance of a m…

§ 909. Limits of risk. (a) No insurer shall retain any risk on any 1 subject of insurance, whether located or to be performed in this State or elsewhere, in an amount exceeding 10% of its surplus to policyholders. (b) A “subject of insurance” for the purposes of this section, as …

§ 910. Reinsurance. Any authorized insurer may reinsure all or any part of an individual risk or of a particular class of risks in any other insurer or accept such reinsurance from any other insurer. Domestic insurers will be subject to § 4944 of this title with regard to bulk re…

§ 911. Credit allowed a domestic ceding insurer. Credit for reinsurance shall be allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of paragraph (1), (2), (3), (4), (5),…

§ 912. Asset or reduction from liability for reinsurance ceded by domestic insurer to assuming insurer not meeting requirements of § 911 of this title. An asset or reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requ…

§ 913. Qualified U.S. financial institutions. (a) For purposes of § 912(3) of this title, a “qualified U.S. financial institution” means an institution that: (1) Is organized or (in the case of a U.S. office of a foreign banking organization) licensed under the laws of the United…

§ 914. Additional requirements. (a) Notwithstanding any other provision of § 911 or § 912 of this title, no credit shall be allowed as an admitted asset or deduction from liability unless the reinsurance agreement provides that in the event of insolvency of the ceding insurer, re…

§ 915. Rules and regulations. (a) The Commissioner may adopt rules and regulations implementing the provisions of this law. (b) The Commissioner is further authorized to adopt rules and regulations applicable to reinsurance arrangements described in paragraph (b)(1) of this secti…

§ 916. Reinsurance agreements affected. 78 Del. Laws, c. 364 shall apply to all cessions after July 27, 2012, under reinsurance agreements that have an inception, anniversary or renewal date after January 27, 2013. 83 Del. Laws, c. 104 shall apply to all cessions after July 30, 2…

§ 917. Definitions. For purposes of this subchapter, the following terms shall have the following meaning: (1) “Consumer product” means any tangible personal property that is distributed in commerce and is normally used for personal, family, or household purposes, including a mot…

§ 918. Exemption from insurance regulation. The offering, sale, or issuance of a guaranteed asset protection waiver, service contract, vehicle theft protection product warranty, or maintenance agreement shall not be considered insurance or subject to the insurance laws of this St…